campbelltown-aerial-view-sydney-feature
Campbelltown tops out the list for the top five Working Class Sydney suburbs, as ranked by Shore Financial. Image: Canva.
  • Most of the top five located more than an hour away from Sydney
  • Top five for expected growth have median house prices between $650K and over $800K
  • Except Campbelltown, large majority of suburbs in the top five are freestanding homes

Shore Financial has released its November report for Sydney property, ranking more than six hundred suburbs by the expected growth in asking prices over the next six months.

The company divided the categories up into quintiles, with the first quintile called Working Class Sydney.

Shore Financial CEO Theo Chambers said the Shore Financial State of Sydney Report is a more timely assessment of the market:

“This quarterly report focuses on leading indicators, rather than lagging indicators, which means instead of talking about how prices have changed in the past, it forecasts how prices are likely to move in the next six months,” he said.

Mr Chambers added that: “All the top suburbs in this report have low inventory levels and low days on market. That means they’re strong seller’s markets, which means buyers have to compete hard to outbid other buyers. That, in turn, is likely to drive significant price growth in the near future.”

The top five

Rank Suburb Postcode LGA Current median house price Forecast house price growth for next 6 months
1 Campbelltown 2560 Campbelltown  $660,000 8.6%
2 Thirlmere 2572 Wollondilly  $750,000 8.2%
3 Buxton 2571 Wollondilly  $650,000 6.5%
4 Picton 2571 Wollondilly  $816,000 5.7%
5 Blair Athol 2560 Campbelltown  $800,000 5.7%

Campbelltown

Average household weekly income $1,206
Median house price – now $660,000
Median house price – growth over past 12 months 11.90%
Median house price – forecast growth over next 6 months 8.60%
Inventory levels 2.7 months
Days on market 29 days
Share of homes occupied by owner-occupiers 53.20%
Share of homes that are freestanding houses 54.20%

Thirlmere

Average household weekly income $1,562
Median house price – now $750,000
Median house price – growth over past 12 months 15.40%
Median house price – forecast growth over next 6 months 8.20%
Inventory levels 2.3 months
Days on market 32 days
Share of homes occupied by owner-occupiers 80.10%
Share of homes that are freestanding houses 85.60%

Buxton

Average household weekly income $1,787
Median house price – now $650,000
Median house price – growth over past 12 months 20.90%
Median house price – forecast growth over next 6 months 6.50%
Inventory levels 2.4 months
Days on market 33 days
Share of homes occupied by owner-occupiers 88.40%
Share of homes that are freestanding houses 99.70%

Picton

Average household weekly income $1,909
Median house price – now $816,000
Median house price – growth over past 12 months 13.30%
Median house price – forecast growth over next 6 months 5.70%
Inventory levels Under 1 month
Days on market 32 days
Share of homes occupied by owner-occupiers 80.10%
Share of homes that are freestanding houses 89%

Blair Athol

Average household weekly income $2,206
Median house price – now $800,000
Median house price – growth over past 12 months 14.40%
Median house price – forecast growth over next 6 months 5.70%
Inventory levels 2.3 months
Days on market 33 days
Share of homes occupied by owner-occupiers 81.80%
Share of homes that are freestanding houses 98.20%

The methodology

Shore Financial said each quintile is assigned based on the current median asking price for houses.

The top five suburbs are whittled down by excluding suburbs that don’t meet the company’s benchmarks and trends related to asking prices, days on market, inventory levels, and sales volumes over the previous three months.

The company then ranked the remainder by expected growth in asking prices over the next six months.

Shore Financial said the data comes from Suburbtrends, with data based on results over the 24 months to November 2021. Other information about average household weekly income, owner-occupier share, and freestanding house share comes from the 2016 census.

~~

Disclaimer: This article contains general information and should at no time be considered financial or legal advice to the reader or to be offensive. The reader should always verify their situation with their financial and legal advisors before taking any further steps. 



You May Also Like

The million-dollar club – 8 Perth suburbs set to join the ranks

Perth’s rising star suburbs to keep an eye on.

Australian housing market upswing extends into the New Year

Positive price momentum rippled into 2024 as CoreLogic’s latest results show a rise in dwelling values.

Australian home values hit a new high in November, marking a V-shaped return to form

November marks a triumphant return for Australian home values, soaring to unprecedented heights, signaling a robust market rebound.

More properties are selling below estimated prices

Properties are selling below estimates in all states suggesting that buyer sentiment has declined