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Where to buy in Sydney’s hot property market

launchgroup.com.au > Blog > Uncategorized > Where to buy in Sydney’s hot property market
18 Dec

Where to buy in Sydney’s hot property market

launch-admin Dec 18, 2013 0 386

 

Media Release

 

Latest Onthehouse data considers the implications for buyers in the strong and weak performing suburbs in Sydney

 

Australia, 18 December 2013: While many Sydney suburbs are performing well in what is being dubbed a ‘red hot’ property market, the latest findings from Onthehouse’s property research arm Residex show that some suburbs have not yet taken off – and could offer potential investment opportunities. 

 

The growth in the top performing suburbs over the last 12 months is significant with people in Northbridge for example, having increased their net worth by more than $300,000.

 

Consulting Analyst for Onthehouse and Founder of Residex John Edwards said that while these best performers are indicators of how a market is going, they are not necessarily the place to rush out and buy in.

 

“Strong performing suburbs are often areas which have already seen the majority of their growth for this current cycle”, he said.

 

“On the other hand, the poor performers are probably yet to see significant growth during this cycle and may offer investors very good growth prospects and for home buyer’s an opportunity to purchase well from despondent vendors.”

 

The Onthehouse research also shows that house and land owners in the top performing areas have done better in all respects compared to those who own units, which given all the hype around units, may surprise buyers.

 

 

Capital Growth Best Performers – Houses

 

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                                                                                                Source: Onthehouse.com.au / Residex

 

 

Capital Growth Best Performers – Units

 

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Source: Onthehouse.com.au / Residex

 

Capital Growth: Worst Performing Suburbs – Houses:

 

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                                                                                                Source: Onthehouse.com.au / Residex

 

Capital Growth: Worst Performing Suburbs – Units:

 

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                                                                                                Source: Onthehouse.com.au / Residex

 

 

Mr Edwards said that knowing where a suburb is in its growth cycle was key to identifying the opportunity within that area. 

 

“If you combine the knowledge about a suburb’s growth cycle along with research data, suburb information and if you find out what the public considers the best streets are, then good buying decisions should result.”

 

Growth Lag: Comparison of Best and Worst Performing Suburbs:

 

Comparison: Best and Worst Performers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: Onthehouse.com.au / Residex

 

Mr Edwards said: “For example, the data suggests that North Parramatta has probably seen the majority of its growth whereas suburbs like Green Valley and Camden South are yet to see their period of strong growth.

 

“Recent auction activity and the numbers point to a market where the upper end is beginning to slow and the lower cost areas are currently the most sought after. Based on the data, it would appear that lower cost suburbs will see the strongest growth in the next 12 months.”

 

For more information and further data please visit www.onthehouse.com.au or www.residex.com.au

 

-ENDS-

 

Media contacts

Ashford Pritchard: E ashford@launchgroup.com.au  / T 02 9492 1040 / M 0411 020 680

Laura Douglas: E laura@launchgroup.com / T 02 9492 1000 / M 0452 505 859

 

About onthousehouse.com.au

www.onthehouse.com.au is Australia’s most transparent and comprehensive real estate portal, empowering consumers to make informed property decisions by providing them with free access to information. Over 1 million unique browsers visit onthehouse.com.au every month to search listings and view in-depth property data, making it Australia’s third most popular real estate platform.

 

Onthehouse.com.au is the flagship consumer offering of Onthehouse Holdings (ASX:OTH), the 360-degree property market services group that provides comprehensive real estate agency solutions, information and analytics services. Onthehouse Holdings businesses together help over half of Australia’s real estate agencies, as well as being used by financial institutions and other property-related professionals.