In real estate terms, Sydney is the pinnacle, offering some of the most valuable property in the world – surpassing capitals like London, New York and Paris.
Finding an affordable property and moving home is stressful at the best of times but the Sydney market comes with its own unique challenges.
At Tony Removals and Storage, we understand the Sydney property market. Our specialist team can offer expert advice on the best moving options including our popular, one-stop pack and unpack service. Imagine walking into your new home and everything has been done for you!
Whether you are looking to rent, buy or build, this is a good time to consider what is happening in Sydney’s property market in 2024.
Affordability
After the property market volatility ignited by COVID, Sydney property prices have stabilised but rental availability is still tight.
Those seeking an affordable rental within commuting distance from Sydney’s CBD may still snap up a 2-bedroom unit around the $400 mark in the following suburbs:
- Roselands
- Croydon Park
- Jordan Springs
- West Ryde
- Penhurst
- Glenfield
- Narwee
For buyers, Sydney’s median house price is north of $1.6 million. It should be noted that this figure is skewed by the number of properties selling in the $20 million-plus range.
Units can offer buyers an affordable entry point onto the property ladder. Suburbs within commuting distance of Sydney’s CBD where unit prices still hover in the $700k – $750k range, in no particular order, are:
- Tregear
- Emerton
- Mount Victoria
- Bidwill
- Whalan
- Lethbridge Park
- Airds
- Willmot
- Warrangamba
- Blacknett
Shrewd unit buyers may still be able to nab a bargain under $450k in:
- Fairfield
- Merrylands West
- Warwick Farm
- Carramar
- Canley Vale
- Ambarvale
- Cabramatta
- Lakemba
Desirability
At the other end of the property scale, Sydney’s coastal suburbs offer a combination of lifestyle, climate, character homes and a wealth of entertainment options.
The following blue-chip suburbs are primarily located east of Sydney where classic federation homes surrounded by swathes of land, are at a premium. Take the Melbourne suburb of Toorak out of the equation and Sydney dominates the top 10 list of Australia’s most expensive suburbs. These suburbs are a selection of the crème de la crème of Sydney real estate:
- Bellevue Hill
- Vaucluse
- Bronte
- Mosman
- Rose Bay
- Northbridge
- Clovelly
An interesting bit of trivia is the fact that one of Sydney’s traditionally expensive suburbs, Point Piper, did not register a median house price due to the low number of recorded sales. The few properties that have sold are in the rarified $60 – $70 million range.
Liveability
As more people choose to work from home, people are looking further afield and the city-centric mindset we once held is somewhat diminished.
A study by the real estate site Domain ranked 569 Sydney suburbs using 19 indicators to identify the most liveable neighbourhoods.
Coming in at number one was Milsons Point, a pocket on the lower north shore. With spectacular views of the Sydney Opera House and Sydney Harbour Bridge, a multitude of cafes, a plethora of transport options and vibrant nightlife, it is hardly surprising.
Also on the list are high-end suburbs like Kirribilli, Darling Point, Lavender Bay, McMahons Point, and Wollstonecraft. A good rule of thumb seems to be that if you can see the Bridge from some point in your suburb, you are golden.
Where to from here?
Whether you are looking for your first rental, downsizing or are a seasoned homebuyer, Tony Removals and Storage are the house removalists you can trust. Our services include short and long-term storage facilities, full pack and unpack service, business relocation and interstate moves. Wherever you are in your house journey, the experts at Tony are here to help.
Give us a call today on 1300 931 888 or message us 24/7 at 0404 888 656 and let us make your next move a breeze!
