Yahoo Finance Top 25 Sydney suburbs where prices are still booming
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.
Also read: Down $325k: 20 regional suburbs seeing the biggest property price falls
Also read: Down $300k: 40 city suburbs where prices are plummeting
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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