Tags :financemoneyNew South WalesPROPERTYSydney
There are many suburbs that will outperform other areas of Sydney, with significant growth over the next year.
Next Saturday will be one of the largest auction days in 2011, and suburbs with a high demand exceed their supply are seeing a lot more interest. They are also open for inspection.
Only for By Select Residential Property (SRP)It is obvious that the city’s 10 largest suburbs with the highest growth rate are in its south.
“It’s an aspirational area, it’s semi-affluent. “Not as much as the east suburbans,” said Jeremy Sheppard of SRP’s research department.
It seems to be attracted a lot of buyers with the interest rate dropping and prices recovering from last boom.
Number one for price growth was a shock result in Dover Heights – normally one of the weaker performers in the eastern suburbs.
SRP projects price increases of 6.6% for the next year, 14.3% for the next two years, 22% for the three, and 2.2% over the last three.
Mr Sheppard stated that it was unusual to find a suburb like this at the top.
The Sutherland Shire, however, is the dominant force.
“Some of these areas have had very high demand, and supply ratios over recent years,” stated Mr Sheppard.
Suburbs like Grays Point, Illawong, and others are expected to experience strong price growth.
|Suburb||Postcode||Current median||Prognosis: 1 year of growth||1. New median year||Growth % for the next two years||2. New median year||Prognosis of growth of % in the next 3 years||New median year 3|
|1||Dover Heights||2030||$ 3,644,475||6.6||$ 3,885,010||14||$ 4,136,479||22||$ 4,428,037|
|2||Beverley Park||2217||$ 1,343,072||6.3||$ 1,427,686||13||$ 1,516,328||21||$ 1,619,745|
|3||Illawong||2234||$ 1,250,965||6.2||$ 1,328,525||13||$ 1,408,587||20||$ 1,502,409|
|4||Kareela||2232||$ 1,203,033||6.2||$ 1,277,621||13||$ 1,354,615||20||$ 1,444,843|
|5||Como||2226||$ 1,246,073||6.2||$ 1,323,330||13||$ 1,403,078||20||$ 1,496,534|
|6||Peakhurst Heights||2210||$ 1,131,596||6.2||$ 1,201,755||13||$ 1,274,177||20||$ 1,359,047|
|7||Bilgola Plateau||2107||$ 1,755,333||6.0||$ 1,860,653||12||$ 1,971,239||20||$ 2,101,134|
|8||Grays Point||2232||$ 1,264,757||6.0||$ 1,340,642||12||$ 1,420,322||20||$ 1,513,914|
|9||Queens Park||2022||$ 2,833,797||6.0||$ 3,003,825||12||$ 3,182,354||20||$ 3,392,055|
|10||Riverview||2066||$ 2,539,537||6.0||$ 2,691,909||12||$ 2,851,900||20||$ 3,039,826|
Riverview in the northeast, and Queens Park to East round out the list.
However, prices are generally lower in south than they are east or north.
This does not mean that other suburbs will not be able to take advantage of a growth boom.
“I wouldn’t discount the Northern Beaches. There is great capital growth, both in the east and within the west,” Mr Sheppard said.
What about Sydney’s western suburbs.
“The growth in the west regions will be there but it is still far off,” Mr Sheppard stated. Every boom is different,” Mr Sheppard stated.
Jonathan Eyles Principal, Highland Property Agents Sutherland stated that Como in Sutherland Shire was something to be proud.
Mr Eyles stated that there was a lack of development and that the area had a village feel. It is located 15 minutes from the beach, and 35 minutes from the city. He also mentioned that the station was on the train line. It’s super central.
“The Shire in Sydney is a blue-chip suburb.
“People visit this place once they’re here and don’t want it to end.
“At the moment, there is a shortage in homes for sale.”