Markets Across Sydney Are Defying The Pandemic Negatives

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 latest quarterly survey analyses 339 suburbs across the Greater Sydney area and has found that 242 of them have rising sales activity.

This means 71% of suburbs have upwardly-mobile trajectories, one of the highest percentages in the nation.

In our Spring survey two years ago, we classified 66 Sydney suburbs as declining markets and 11 as danger markets.

In our latest survey, there are none ranked as declining and only three are danger markets (all apartment-dominated locations with high vacancies and declining prices).

Most of the municipalities across the Sydney metropolitan area have delivered notable results in our Spring survey.

In most Sydney LGAs, the vast majority of suburbs have rising sales activity.

Against this backdrop, we have published our new edition of the Top 5 Sydney Hotspots report.

It outlines five precincts which we think have good prospects for future capital growth.

So get yourself a copy of this report and find our the best places to buy in the capital city market which, despite everything, is leading the nation on price growth.

https://www.hotspotting.com.au/product/top-5-sydney/