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Top 25 Sydney suburbs where prices are still booming

·Personal Finance Editor
·3-min read
The view of the Melbourne CBD from a suburb overlooking it and a person holding $100 notes.
Not all Sydney suburbs are seeing price falls. (Source: Getty)

The property market is starting to fall back from its peak, but some suburbs are still seeing major price rises.

The Sydney property market has traditionally led the charge when it comes to both the rises and falls.

And while property prices are falling across most parts of Sydney, a new report has identified a range of suburbs that have outperformed the market over the year to August.

The quarterly Shore Financial State of Sydney Report analysed Sydney’s 600-plus suburbs, and then picked the top five suburbs for different quintiles based on changes in their median house price over the previous 12 months.

The report defined the quintiles as:

  • Quintile 1 = Working Class Sydney

  • Quintile 2 = Suburban Sydney

  • Quintile 3 = Rising Sydney

  • Quintile 4 = Professional Sydney

  • Quintile 5 = Elite Sydney

Shore Financial CEO Theo Chambers said the Sydney property market had significantly changed since this analysis was last done six months ago, in March.

“Back then, the average annual price growth for the standout suburbs was an astonishing 49.2 per cent, now it’s 18.6 per cent for the suburbs in our report,” Chambers said.

“That shows you that the market has significantly cooled.”

Chambers said the Sydney market was likely to look very different six months from now when the next analysis occurred.

“Prices are likely to continue trending down in most parts of Sydney for a bit longer,” he said.

“It’s hard to say how much longer the downturn will last, but it’s important to remember prices skyrocketed during the boom, which means it’s likely only a share of those gains will be given back.

“If you’re a buyer, conditions are more favourable than earlier in the year. But if you’re waiting for prices to return to pre-pandemic levels, I’d suggest that’s wishful thinking.

“My guess is this correction will end well before we get to that point, and that another growth cycle will then begin.”

25 suburbs prices are still booming

Working class

Rank

Suburb

Postcode

Median home price

Growth in median pricefor year to Aug 2022

1

Oakhurst

2761

$840,000

20%

2

Prestons

2170

$990,000

20%

3

Liverpool

2170

$960,000

20%

4

Minto

2566

$862,000

19.7%

5

St Helens Park

2560

$778,000

19.7%

Suburban Sydney

Rank

Suburb

Postcode

Median home price

Growth in median pricefor year to Aug 2022

1

Fairfield West

2165

$965,000

19.1%

2

North Rocks

2151

$1,760,000

18.9%

3

Guildford West

2161

$950,000

18.8%

4

Chester Hill

2162

$1,050,000

18.5%

5

Condell Park

2200

$1,250,000

17.9%

Rising Sydney

Rank

Suburb

Postcode

Median home price

Growth in median pricefor year to Aug 2022

1

Kirrawee

2232

$1,565,000

19.5%

2

Bangor

2234

$1,500,000

18.8%

3

Erskineville

2043

$1,780,000

18.7%

4

Forest Lodge

2037

$2,100,000

17.3%

5

Penshurst

2222

$1,700,000

17.2%

Professional Sydney

Rank

Suburb

Postcode

Median home price

Growth in median pricefor year to Aug 2022

1

Elanora Heights

2101

$2,600,000

18/2%

2

Marrickville

2204

$1,920,000

18.1%

3

North Epping

2121

$2,135,000

18%

4

Dulwich Hill

2203

$2,075,000

17.9%

5

Avalon Beach

2107

$2,850,000

17.5%

Elite Sydney

Rank

Suburb

Postcode

Median home price

Growth in median pricefor year to Aug 2022

1

Frenchs Forest

2086

$2,205,000

19.2%

2

Lindfield

2070

$3,600,000

18.8%

3

Paddington

2021

$3,150,000

18.8%

4

Concord

2137

$2,900,000

17.2%

5

Lane Cove

2066

$2,700,000

16.9%

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