This is the strongest Sydney market we have recorded in the five years we have been conducting our quarterly sales surveys. Greater Sydney has 67 suburbs with rising buyer demand, compared with 18 six months ago.
Our Winter 2019 survey pinpointed the bottom of the Sydney trough and this Autumn 2020 survey provides strong evidence of the market revival, showing just how much has changed since the middle of 2019. The number of suburbs classified as declining markets has dropped from 66 suburbs six months ago to 12.
The suburbs with growing sales activity are spread across 22 municipalities in the Greater Sydney area, but it is clear that the greatest uplift is being felt at the upper end of the market and that the revival is not evenly distributed.
The leading LGAs in terms of the number of growth suburbs are the Northern Beaches, Sydney City and Inner West municipalities.
An exception is the Blacktown LGA, which is showing healthy signs of revival. But other outer-ring regions – such as Penrith, Liverpool, Camden and Campbelltown – have only small numbers of growth markets, with sales levels generally remaining at moderate levels.
And there are still several locations which we continue to classify as “danger” markets.
So the Sydney story heading into 2020 is one of recovery – but buyers need to be aware that this recovery is not universal across all areas and do their research.