With Sydney property prices already 30 per cent higher than they were two years ago – ouch! My wallet’s burning just typing that – you’re probably wondering how on earth you’re going to enter the Sydney property market.
I’ve already told you my thoughts on the Sydney property growth over here (if you haven’t read them, read this post now and relax). So it’s true that property growth is slowing, but there still remain some strong growing suburbs, which some investors might say are the best suburbs to buy in Sydney.
But saying “the best suburbs to buy in Sydney” is misleading, because everyone is different. What’s the best for me might not be the best for you. I feel a BLT is the best lunch hands down, but you might like tacos. To each their own. Mmmm BLT…
And the same goes for buying a home in Sydney. Some of the suburbs in the list below are more suited for first homebuyers after an affordable family home, and other suburbs are best for investors hot on the trail of Sydney property growth.
Whether you’re keen to buy an investment property that will offer strong rental returns, or want to buy a house away from the hustle and bustle for your young family, use this list as a guide for exploring your options for buying property in Sydney.
Hey Andrew! How was this calculated?
All data comes from CoreLogic RP Data and is correct as of December 21, 2015. Sydney property currently has an 11.5% annual gain. And although it showed a 2.3% decline last quarter, it’s still the strongest of any capital city in Australia!
Median unit price: $637,000
Annual growth: 9.8%
Lauded by many a hipster as the next Newtown, Marrickville is incredibly convenient and attractive for young renters in their 20s and 30s. It’s quite a diverse suburb too, with a mixture of young professionals, gay and lesbian singles and couples, and young, trendy families. It’s the kind of suburb that offers the best of both worlds – just a quick Uber ride away from the CBD, but leafy enough to have that homely, suburban feel.
Median unit price: $746,500
Annual growth: 7.3%
Just one hop away from Newtown, Erskineville has a quieter lifestyle than its crazier sister suburb. Small streets, alleyways, cafes and parks are all a part of the lifestyle. Demographically, those who live there are a bit younger and single, so it suits students at Sydney Uni or Enmore’s Design TAFE. Like it’s surrounding suburbs of Marrickville and Newtown, it’s a super diverse suburb and an exciting place to live.
Median unit price: $767,100
Annual growth: 8.6%
Kingsford is like the quieter, more modest younger sister to Randwick. Students abound in this area, as it’s just next to UNSW, almost walking distance to Coogee beach, and buses to Bondi can be caught from Anzac Parade.
Median unit price: $852,500
Annual growth: 7.3%
Thornleigh seems to be the kind of suburb that established couples are jumping on right now. Whether it’s a home for you and your partner, or you’re after some high quality tenants who won’t trash the place, Thornleigh is well worth your consideration. And for a good reason! It’s incredibly family friendly, with great primary schools in the area, a range of private schools, and beautiful tree-lined streets. It’s also just a 50-minute train ride to the CBD.
Median unit price: $388,500
Annual growth: 10.35%
Arguably one of the more affordable suburbs in Sydney, Penrith’s a great choice if you’re looking for a metropolitan area without paying through the nose. It’s not known for its nightlife, which makes it a better area for young families with kids. Penrith is a rapidly growing community, which some say is going to be the 2nd Parramatta in 10 years. As with most area growing, traffic can be punishing at peak hour, but luckily it’s just 50 minutes to the CBD by train.
Median unit price: $730,000
Annual growth: 9.4%
Let me tell you a secret that the locals will hate me for…Dundas is one of the Northside’s best-kept secrets. It’s close to public transport, Top Ryde shopping centre, and Macquarie shopping centre, and you can still snap up a property for a decent price. Are you sold yet?
Locals favour the Carlingford side for its safety and greenery, and it’s popular amongst middle-income growing families. Perhaps it’s because the nightlife is non-existent, and for many this is a plus. Experts say the market prices in the area are volatile, but if you’re in for the long haul you’ll reap the rewards.
Median unit price: $700,000
Annual growth: 7.8%
Cronulla’s changed a lot since the brewhaha of 2005. Today, you’ll find a happy beachside community that likes nothing more than chilling out at the RSL or Northies. Attractions like the main shopping strip, a number of beaches to choose from, a growing number of trendy cafes and easy access to Westfield Miranda make Cronulla ideal for young professionals, young couples and students. It’s also just 45 minutes from the CBD by train, which young people love.
Median unit price: $450,000
Annual growth: 8.6%
Ah, historical Camden. Much-loved by locals for its country town-feel and neighbourly vibe, this green and leafy suburb is great for young families looking to get out of the hustle and bustle of Sydney. Imagine this: BBQs by the Nepean river, loads of period architecture, and an outdoor pool to cool off in from September onwards.
Known for it’s period-style homes rather than Sydney’s surge in schmick new apartments, Camden is a great investment opportunity which you can take over when the kids grow up and you want to move somewhere quieter.
Median unit price: $648,000
Annual growth: 10.3%
Notably one of the best places to live near Sydney CBD! Because of its dynamic lifestyle – an active nightlife, pubs, parks, tree-lined streets, and a trendy café culture – Alexandria’s best suited to young and in-the-know professionals. In terms of its actual property, you’ll find a nice variety of converted warehouses, Victorian-style townhouses and Art Deco apartments.
Median unit price: $450,000
Annual growth: 10.6%
Along with its price changes, Blacktown’s reputation is also changing. It’s a big suburb with different areas feeling almost like suburbs unto themselves. South Blacktown seems to be more popular among young families who want to get their kids into primary school. And if you do have kids, they’ll love the new Wet ‘n’ Wild Waterpark close by in Prospect. There’s also easy access to the M4 and M5, along with the train station and a major shopping area. There’s not many places you can buy a house in Sydney for under $700,000 that are close to everything a young family needs!