Seminar: Prospects for Sydney real estate

Posted on 12/03/2015  
Seminar: Prospects for Sydney real estate

Media commentators, notably economists with limited knowledge of real estate, keep calling the end to the Sydney boom – but the sales figures suggest there’s still plenty of life in Sydney markets.

Hotspotting research for The Price Predictor Index report shows that there continues to be growth markets spread across the metropolitan areas, with renewed momentum in Top End locations, as well as growth in the middle ring and outer suburbs.

Sydney City is prominent, as are the prestige areas covered by the Woollahra and Warringah municipalities, but equally there is exceptional activity in outer areas such as Penrith and Blacktown in the west, and Camden and Campbelltown in the far south-west.

Sales activity in the Top End suburbs surged in 2013 and peaked in the December Quarter of that year, before subsiding somewhat in the first half of 2014. But there was a marked revival in many of the millionaire suburbs in the December Quarter of 2014. There is ample evidence that this momentum has continued in the early months of 2015.

Mosman provides an example of trends in the prestige suburbs. It rose throughout 2013, with quarterly sales of 162, 203, 230 and peaking with 260 in the December 2013 Quarter. Sales dropped to 189 in the March 2014 quarter but revived later in the year, reaching a new peak of close to 300 sales in the December 2014 Quarter.

Others with similar patterns include Randwick, Neutral Bay, Vaucluse, Seaforth, North Bondi, Paddington, Roseville, Queenscliff and Rozelle.

In the second half of 2014, the outer reaches of the Sydney metropolitan area emerged as leaders on sales activity and price growth. This continues to be true, with the far south-west as the leading precinct. Both the Campbelltown and Camden LGAs have strong markets.

Harrington Park in the Camden LGA has had quarterly sales since March 2013 of 35, 48, 56, 63, 63, 72, 73 and 85 – while Leumeah in the Campbelltown LGA has recorded sales of 45, 54, 65, 65 and 90 in the past five consecutive quarters. That trend of rising sales inevitably leads to price growth.

Penrith, the far west, was a rising star of 2014 and now has numerous growth markets. Blacktown, which was another leading Sydney sector throughout 2014, continues to deliver growth markets.

NOTE: Prospects for Sydney real estate (as well as other key markets around Australia) will be a primary topic of a seminar on Wednesday evening, 18 March 2015. Hotspotting founder Terry Ryder will be guest speaker, alongside Sydney buyers agent Rich Harvey of propertybuyer, as well as Mike Nicholson and Jeff Wong of The Mortgage Professionals.

The seminar will be from 7pm to 9pm on Wednesday, 18 March, at the SMC Conference & Function Centre, 66 Goulburn Street, Sydney CBD.

 

To book, follow this link.

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