Property investors seeking good price growth need to buy in the inner city, a new report has claimed.
The latest property report by PRDnationwide found that seven out of the top ten New South Wales suburbs recording the most growth in sales activity are located within a 20 kilometre radius of Sydney's CBD.
Oatlands, 23km north of Sydney, topped the list recording 160 per cent growth in property sales between 2009 and 2010.
Sylvania Waters came a close second recording 156.3 per cent growth in sales activity, with 41 houses sold over the year – up from 16 the year before.
“The areas experiencing the greatest growth in sales offer a high degree of amenity and are well serviced by transport corridors,” PRDnationwide managing director Jim Midgley said.
“The New South Wales suburbs experiencing the highest growth in sales activity are typically situated in areas with easy access to the Sydney CBD through major road networks or train lines,” he said.
“These areas have a propensity for strong price growth as demand increases for properties nestled along major transport corridors.”