Top 25 Sydney suburbs where prices are still booming

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.

• Also read: Down $325k: 20 regional suburbs seeing the biggest property price falls

• Also read: Down $300k: 40 city suburbs where prices are plummeting

• Also read: Top 20 desirable suburbs to buy under $580,000

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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