The Sydney suburbs with the highest and lowest house price growth

There's no denying Sydney's house prices have boomed. The city has seen it's strongest annual house price growth in almost three decades creating affordability issues, in particular for first home buyers. The National Finance and Investment Corporation recently conducted research and found that less than 20 per cent of of properties in Sydney are classified as affordable when compared to average incomes.

The latest Domain House Price Report shows more than 50 suburbs have increased in value by over 20 per cent in the space of 12 months. Greater Sydney's median house price even hit a record $1,410,133 last quarter.

The strongest suburb gains were largely seen across the northern beaches, eastern suburbs, north shore and Central Coast. The following table shows the top 20 Sydney suburbs with the strongest house price growth.

Domain's chief of research and economics, Dr Nicola Powell reports demand for houses and lifestyle locations had continued to be strong off the back of lockdowns and the rise of remote working. Premium suburbs had seen extreme house price growth over the year, with the top end of the market typically leading both downturns and upswings.

The strong rates of growth across Greater Sydney presents fantastic opportunities for homeowners looking to create an investment portfolio. Now is the perfect time to ask a local real estate expert to perform a market appraisal of their home. It's possible many homeowners are sitting on a significant amount of equity which they can tap into to start their investment journey.

If you would like to know more about your investment options, contact us today to get started. Just click here.

While many suburbs have experienced high levels of growth, there are other markets within Sydney that haven't performed as well. The Domain House Price Report indicates the suburbs that have experienced the weakest house price growth over the last 12 months.

Before the latest lockdown, AMP Capital chief economist, Shane Oliver, had expected annual house price growth in Sydney to slow down to 5 per cent next year as a result of deteriorating affordability, tightening of bank lending standards, rising fixed rate mortgages, and a decline in home buyer incentives.

The list of suburbs with the weakest house price growth over the last 12 months could present bargain properties for first home buyers struggling to enter the hot market. To calculate your borrowing capacity, why not speak to your professional mortgage broker. Click here to contact us today.

To read the full report from Domain, just click the button below.