Sydney’s fastest rising markets under $500,000: Terry Ryder
Terry Ryder’s most recent Price Predictor Index, June to September 2014, looks at Sydney’s fastest rising markets for units and houses across the suburbs.
Within the hotspotting.com.au list, Property Observer selected the 17 opportunities for investors who are looking to enter into the market for $500,000 or less. We have included the suburbs available in alphabetical order over the page, as well as noting whether houses or units were on Ryder’s radar. The price provided is the median for the unit or house market in the respective suburb.
Ryder notes that while Sydney’s metropolitan star remains the inner-city market, the west and south west are continuing their rise to prominence.
The City of Sydney won the overall list, with six suburbs on the Rising Fast list, which numbered some 68 opportunities (some being the house and unit markets in the same suburbs), and seven on a subsequent Rising Steadily list.
The report notes that sales levels in Darlinghurst have doubled in less than 12 months, with Chippendale and Haymarket experiencing a similar result.
Pyrmont was also a performer, with a 110% sales rise in nine months.
“We are concerned that inner-city Sydney will eventually have a similar issue to inner Melbourne, where far too many apartments are being built, but at this stage Sydney has no apparent over-supply issues and demand for city units continues to rise,” the report notes.
However, beyond the CBD, it’s out west that is rising fast – and providing a more affordable entry point.
“Heading west from the City, the municipalities of Parramatta, Blacktown and Penrith are rising, while in the south-west Bankstown, Liverpool, Campbelltown and Camden all have strong markets,” explains Ryder.
Blacktown LGA continues its strong position, Penrith LGA also recorded good results and Parramatta LGA is a standout on the rising steadily and the consistent list.
Camden LGA, Bankstown LGA and Campbelltown LGA also managed to achieve strong rising market results.
Turn the page to see the 17 Rising Fast suburbs with median prices at $500,000 or less.
17 affordable Rising Fast markets
- Auburn (U) $375,000
- Bankstown (U) $365,000
- Blacktown (H) $450,000
- Camden South (H) $465,000
- Cranebrook (H) $435,000
- Greenacre (U) $469,000
- Hinchinbrook (H) $500,000
- Homebush West (U) $470,000
- Ingleburn (H) $385,000
- Jamisontown (H) $435,000
- Jamisontown (U) $289,000
- Kellyville Ridge (U) $440,000
- Lakemba (H) $315,000
- Liverpool (U) $300,000
- Merrylands (U) $379,000
- Roselands (U) $367,000
- Westmead (U) $432,000
Source: hotspotting.com.au
Key:
(H) Houses
(U) Units
For more information on the report see Terry Ryder’s latest reports available here.