These Sydney suburbs are leading the market recovery

By Gerv Tacadena

Several Sydney suburbs are leading the housing market recovery in terms of price growth.

Several Sydney suburbs are leading the housing market recovery in terms of price growth, industry figures show.

Areas in the inner west, lower north shore, and northern beaches managed to record stellar price growth in the past three months, according to the latest study by Realestate.com.au.

The table below enumerates the suburbs where prices rose by as much as 9% over the last quarter:

Sydney suburbs at the forefront of recovery

Inner west suburbs with 1% to 9% price growth

Lower north shore and northern beaches suburbs with 1% to 5% price growth

Newtown

Mosman

Erskineville

Clontarf

Alexandria

North Balgowlah

Dulwich Hill

Seaforth

St Peters

Cammeray

Redfern

 

Petersham

 

Sellers in these suburbs previously struggled to attract prospective home buyers. These areas, which were affected significantly by the housing downturn, would now appeal once again to buyers, SQM Research director Louis Christopher told The Daily Telegraph.

"The inner west was hit particularly hard by the downturn," he said.

Suburbs in inner west tend to rebound earlier compared to other parts of Sydney as buyers are more inclined to buy homes that are closer to the central business district, McGrath-Newtown agent Adrian Tsavalas said.

"There is an expectation that now is a very good time to buy," he told The Daily Telegraph.

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