May 13, 2022
Significant changes have occurred in the Sydney property market in the early part of 2022, with a weakening at the top end of the market and a re-focus on locations and dwelling types that offer better affordability.
Most notable is the shift in focus to more affordable suburbs for houses and also an uplift in demand for locations with apartments at attractive prices.
There is strong buyer demand in precincts where houses are typically available in the price range from $900,000 to $1.5 million, and suburbs with median unit prices below the overall Sydney median of $830,000 (CoreLogic figures) – or, in some cases, slightly above it.
We expect this to be an ongoing feature of the Sydney market, with more buyers opting for apartments to achieve purchases in good locations at more affordable prices – in a city where the median house price is close to $1.5 million and many suburbs have median house prices above $1 million.
Against this backdrop, we have published our new edition of the Top 5 Sydney Hotspots report. It outlines five precincts which we think have good prospects for future capital growth in both the house and apartment markets.