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Sydney’s best and worst growth suburbs in 2015

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11 Feb

Sydney’s best and worst growth suburbs in 2015

launch-admin Feb 11, 2016 0 730

 


 

MEDIA RELEASE

Sydney’s best and worst growth suburbs in 2015

Sydney, 21 January 2016: Leading property data platform Onthehouse.com.au has today released data on Sydney’s 2015 market performance, with its best and worst growth suburbs revealed.

Market Analyst at Onthehouse.com.au, Eliza Owen said: “Australia’s property market in 2015 was very volatile across Australia, with each state capital market performing uniquely based upon native cyclical patterns and growth patterns.”

The following table reveals Sydney’s top 10 performing suburbs in 2015:



Source: Onthehouse.com.au

The following table reveals Sydney’s worst 10 performing suburbs in 2015:



Source: Onthehouse.com.au

Ms. Owen’s top observations from the 2015 Sydney market growth are:

Sydney’s west and south-west suburbs led growth in 2015

“It is interesting to note that the top five growth suburbs in Sydney are located in the far west and south-west of the Sydney metropolitan area. Elizabeth Hills, Penrith and Macquarie Fields led the way with staggering median value increases of above 30 per cent,” said Ms. Owen.

Sydney’s data reflects historical cycles going back to the 1980s

“Last year marked the end of the most recent Sydney growth cycle. Sydney’s growth cycles typically begin with the most prestigious, highly valued areas increasing first – mainly around the eastern suburbs and the inner city – with growth then spilling further and further west and out to lower value areas. Therefore, 2015’s growth in Sydney’s south-west signalled that we at the end of a housing boom,” continued Ms. Owen.

The Hills area saw sustained growth in this housing boom

“Pennant Hills is perhaps the most surprising entrant on this list as it has now has seen double-digit annual growth for the last three years in a row. The sustained popularity of the area could be due to a revitalised interest in the Hills region as new, young families migrate to Sydney and demand large homes, and new infrastructure is added in nearby suburbs,” said Ms. Owen.

Some suburbs just aren’t ready for units
“A slowdown in growth in Asquith and Winston Hills units reflects very ambitious, optimistic development in these otherwise spacious, leafy suburbs. Ten years from now, when Sydney has a more dense population, high rises may be demanded in these areas. However, the quick growth cycles of these dwellings in 2015 taught us that growth in units in Asquith and Winston Hills was perhaps based more on speculative demand than dwelling demand,” continued Ms. Owen. 

No suburb is safe from property cycles

“Property has always performed cyclically, even when there is a general upward trend. Church Point is a beautiful, exclusive waterside suburb that was the only area in Sydney to retract in value during 2015 because every property buyer has a price cap,” said Ms. Owen. 

To access more free property data or find out how much your house could be worth, head to Onthehouse.com.au.

-ENDS- 

Media contacts

Sarah Bond: E: sarah@launchgroup.com.au / T 02 9492 1041 / M 0449 543 181

Laura Blue: E laurab@launchgroup.com.au / T 02 9492 1000/ M 0416 699 925

About Onthehouse.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 1.8 million unique visitors search for listings and view in-depth property data a month, 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. 





Sarah Bond, Senior Account Manager
Launch Management Group Pty Ltd
 
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