A new report has identified the best Sydney suburbs to buy property in 2022, split by their price point for homeowners, with Campbelltown and North Bondi rating very highly.
Shore Financial, one of the leading buyer’s agencies in Sydney, created their report based on a variety of factors – median house price, forecast growth, days on market and neighbourhood property analysis – and then split the results into different bands.
Their five categories were “Working Class Sydney”, “Suburban Sydney”, “Rising Sydney”, “Professional Sydney” and “Elite Sydney”, with individual suburbs named as the best option for property buyers in each.
“We’re trying to give everybody insight,” said Shore Financial CEO Theo Chambers. “Our goal to build the best relationships with consumers comes from information, rather than just telling them something. We try to put these reports together to give them useful content so they can make an educated decision on their property transactions.”
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At the lower end of the market, Southwest Sydney dominated the “Working Class Sydney” band: Campbelltown, Thirlmere and Buxton taking out the top three spots. In “Rising Sydney”, the suburbs identified were more geographically spread, but shared similar neighborhood characteristics.
“Around Picton and Campbelltown, there’s good infrastructure being built,” said Chambers. “There’s also a lot of land subdivision happening in adjacent suburbs such as Camden. Naturally, that improves the retail in those areas. The city itself is evolving, which is making it more desirable to people wanting to buy there.”
“It’s the same in the ‘rising Sydney’ category: Erskineville is quite similar. It’s come a long way and has become a food mecca for Sydney – that whole Inner West pocket is going gangbusters.”
“Other areas around the Shire, Hawkesbury and Bayside are popular with rich downsizers looking for a quieter place for retirement. Erskineville and Rockdale are all about amenities, the main roads in those areas are shop after shop after shop.”
While the bands differed greatly in prices – as little as $660,000 median in Campbelltown and as high as $3.5m in North Bondi – the relative affordability was vital for purchasers to understand, said Chambers.
“In the Eastern Suburbs and Northern Beaches, they’re coming off a significant base price so a 10-15% increase is a big dollar value,” he said. “In other areas of our report, where the base price is lower, if someone is willing to pay $3-400,000 more to live in those areas it’s a huge increase in value.”
