Sydney is defying not only the pandemic but conventional wisdom. It has suffered major lockdowns, it is losing population to internal migration and overseas migration has been shut down, yet its market is booming.
In the circumstances, according to economic theory, Sydney prices should not be rising and sales activity should be stalling. Yet, according to CoreLogic data, Sydney’s median house price rose 1.9% in August, 7.1% in the latest quarter, and 23% in the first eight months of the calendar year.
This is occurring on the back of extraordinarily high sales volumes. Our Spring survey has analysed 339 suburbs across the Greater Sydney area and 242 of them have rising sales activity: this means 71% of suburbs have upwardly-mobile trajectories, one of the highest percentages in the nation.
Against this backdrop, we have published our new edition of the 7 Sydney Hotspots reports. It outlines five precincts which we think have good prospects for future capital growth.
So get yourself a copy of this report and find out the best places to buy in the capital city market which, despite everything, is leading the nation on price growth.