Property hotspots rise in Sydney

By Gerv Tacadena | 30 Sep 2019

Prices are surging in Sydney's suburbs, revealing the city’s property hotspots, according to the latest study by Realestate.com.au.

Suburbs like Palm Beach, Pymble, Collaroy, Cabramatta, and Vaucluse have achieved price growth of 4% to 24% over the year to August.

Cabramatta, which was one of the relatively affordable suburbs in the city, reported a 4% increase in median sale price to $849,000, making it one of the strongest suburbs in the city in terms of price growth.

Also read: Housing Risks Subside In Melbourne, Sydney

"Cabramatta is getting expensive. It's going through a bit of a transition, though, and because it's quite cheap, I think it is attracting a lot of younger people," Realestate.com.au chief economist Nerida Conisbee said.

Cabramatta is the only suburb amongst the 10 most active with a median value of less than $1m.

"It does seem to be one of those suburbs that is slowly going through a bit of a change in who's living there and who is wanting to be there," Conisbee said.

Vaucluse reported the highest growth at 24%, bringing its median sale price to $6.5m. Collaroy followed, recording a 15% increase to $2.75m

The table below shows the 10 Sydney suburbs which recorded the best price growth over the year to August:

Property Hotspots in Sydney

Suburb

Change

Median Sales Value

Vaucluse

24%

$6.5m

Collaroy

15%

$2.75m

Summer Hill

14%

$1.65m

Rose Bay

11%

$4.22m

Palm Beach

11%

$3.4m

Balgowlah

9%

$2.2m

Bondi Junction

8%

$2.12m

Cammeray

5%

$2.27m

Pymble

4%

$2.42m

Cabramatta

4%

$849,000

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Top Suburbs : the basin , artarmon , woolloongabba , menai , st peters

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