denistone-station-sydney-new-south-wales-feature
Denistone took out top spot for the Professional Sydney category in Shore Financial’s rankings. Image: Wikimedia Commons.
  • Most suburbs in the top five located within approximately 20km of Sydney
  • Most suburbs are generally well serviced by public transport, particularly trains
  • Denistone takes top spot for the Professional Sydney category

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 fourth quintile called Professional 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 Denistone 2114 Ryde  $1,990,000 15.3%
2 Ashbury 2193 Inner West  $1,780,000 14.5%
3 Warriewood 2102 Northern Beaches  $2,120,000 12.7%
4 Monterey 2217 Bayside  $1,868,000 11.5%
5 Croydon Park 2133 Burwood  $1,756,000 7.8%

Denistone

Average household weekly income $2,333
Median house price – now $1,990,000
Median house price – growth over past 12 months 9.30%
Median house price – forecast growth over next 6 months 15.30%
Inventory levels 1.1 months
Days on market 25 days
Share of homes occupied by owner-occupiers 82.80%
Share of homes that are freestanding houses 83.30%

Ashbury

Average household weekly income $2,157
Median house price – now $1,780,000
Median house price – growth over past 12 months 18.70%
Median house price – forecast growth over next 6 months 14.50%
Inventory levels Under 1 month
Days on market 26 days
Share of homes occupied by owner-occupiers 88.30%
Share of homes that are freestanding houses 90.20%

Warriewood

Average household weekly income $2,160
Median house price – now $2,120,000
Median house price – growth over past 12 months 28.50%
Median house price – forecast growth over next 6 months 12.70%
Inventory levels 1.1 months
Days on market 19 days
Share of homes occupied by owner-occupiers 81.50%
Share of homes that are freestanding houses 48.90%

Monterey

Average household weekly income $1,498
Median house price – now $1,868,000
Median house price – growth over past 12 months 19.70%
Median house price – forecast growth over next 6 months 11.50%
Inventory levels 2.6 months
Days on market 26 days
Share of homes occupied by owner-occupiers 68.30%
Share of homes that are freestanding houses 42.20%

Croydon Park

Average household weekly income $1,597
Median house price – now $1,756,000
Median house price – growth over past 12 months 30.60%
Median house price – forecast growth over next 6 months 7.80%
Inventory levels 1.8 months
Days on market 27 days
Share of homes occupied by owner-occupiers 67.10%
Share of homes that are freestanding houses 45%

The methodology

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

The top five 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 ranks 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.



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