To absolutely no one’s surprise, the most in-demand Sydney suburbs are all in close proximity to the ocean; except for one, that is…
Domain, the Australian digital property portal, has released their Spotlight Report which provides a detailed insight into the NSW property market. The report was created by a team of “research experts” and revealed, among other things, what the top ten in-demand Sydney suburbs are.
This was achieved by looking at the average number of views per property listing on Domain to determine what areas potential buyers are currently most interested in. As it turns out, Northwood, located on the Lower North Shore, is the most in-demand suburb in Sydney followed closely by Kurraba Point, also located on the Lower North Shore, and Whale Beach, located on the Northern Beaches.
The fourth through to the ninth most in-demand Sydney suburbs according to Domain’s Spotlight Report are (in order) Birchgrove, Mooney Mooney Creek, Lavender Bay, Clontarf, Canada Bay and Patonga – meaning Sydney’s top nine most in-demand suburbs are all coastal and boast many properties with waterfront views.
However, Sydney’s tenth most in-demand suburb, Darlington isn’t coastal at all. It’s a trendy inner-city suburb that’s located extremely close to Sydney’s CBD and is filled with beautiful terraced houses.
If you’re thinking of investing in one of these ten suburbs prepare for a tough battle though, as buyers’ agent Henny Stier, of OH Property Group, told the Sydney Morning Herald that buyers usually have to wait years before a property becomes available in these areas.
This is because demand is so high (duh, they’re the top ten most in-demand suburbs in Sydney) and because these suburbs are quite small – meaning there’s only a limited supply of properties. Stier also said, “Not much supply comes up [because] they are considered premium suburbs.”
The surprising thing is that as the most in-demand Sydney suburb is Northwood, clearly, there are at least a few lucky Aussies who aren’t struggling with rising living costs because, according to realestate.com.au, the average house price in Northwood is a whopping $5,567,500…
Read Next