Sydney markets have defied the pandemic recession, with notable uplift in sales activity and prices in 2020.
Our quarterly survey for the Summer edition of The Price Predictor Index has identified more growth markets than at any time in the six years of these surveys.
In our survey six months ago, we could find only 24 suburbs with rising sales momentum across the Greater Sydney area – and 31 suburbs ranked as declining or danger markets.
Now we find 93 suburbs with rising sales activity – and the number of declining or danger markets has halved.
There are two distinct sectors doing well across the Greater Sydney area: the upper end of the market and the outer-ring areas where first-home buyers and other budget owner-occupiers have been busy.
The more expensive sector is being led by the Inner West and the Northern Beaches.
Other top end precincts with buoyant markets include the municipalities of Woollahra, Waverley and Randwick.
A few tiers below those markets price-wise, Sutherland Shire continues to show signs of being an up-and-coming market.
The more affordable parts of the Sydney metro area are also buoyant. Out west, the Blacktown and Penrith municipalities both have seven suburbs with rising sales activity, while in the south-west the Camden and Campbelltown LGAs jointly have 12 rising suburbs.
Our analysis of price trends across the Sydney metro area tells a story of stubborn resistance to the forces of the pandemic.
Most suburbs have delivered growth in their median house prices in the past 12 months – and most also have had growth in the most recent quarter, amid the pandemic period.
We’re predicting a nationwide real estate boom in the coming year and we expect Sydney to be part of it.
So have a read of our new Top 5 Sydney report and find out where we think the best places to buy can be found.