Top 10 NSW suburbs October 2015

The September quarter brought significant growth across the NSW market, with all of the suburbs in the top 10 seeing more than 30 per cent growth in property prices.

Six of the top 10 suburbs are located in greater Sydney, while only two, Point Piper and The Rocks, would be considered blue-chip suburbs by property investors.

Median prices house prices in Point Piper in Sydney’s eastern suburbs grew 33 per cent over the September quarter, according to CoreLogic RP Data figures.

Home to Australia’s new Prime Minister, the suburb has received a lot of positive press in the recent months. Offering sweeping harbour views and access to beaches, the headland suburb boasts a relaxed and secluded atmosphere, just six kilometres from the city centre.

Right in the thick of it, city suburb The Rocks grew 31.9 per cent across the quarter, based on median unit prices provided by CoreLogic RP Data. Walking distance from ferries, buses and trains, and some of Sydney’s best restaurants and bars, the suburb attracts professional singles and couples.

Burwood Heights, in Sydney’s inner west, also saw a growth of 32.5 per cent in the September quarter for houses. Located 13 kilometres from the CBD, the suburb is quite small – with just 810 residents according to the 2011 Census – but is within two kilometres of both Burwood and Croydon train stations.

The remaining three Sydney suburbs in the NSW top 10 are Wetherill Park, Colebee and Bella Vista. All three are located upwards of 30 kilometres away from the Sydney CBD, but are moderately closer to the Parramatta CBD.

Bella Vista will welcome a new station on the Sydney Metro Northwest train line in the coming years, which will also bring retail space and local bus access. The estimated travel time on the new train line from Bella Vista to Sydney CBD is 50 minutes.

With 30.8 per cent growth in the September quarter for units, Sunshine in Lake Macquarie is the nearest suburb to Sydney on the NSW top 10. The coastal suburb attracts regular short-stay visitors due to its waterfront location.

Newcastle suburb Newcastle East is similarly coastal, located right on the edge of the famous Newcastle Beach. Newcastle East boasts a number of foundational growth drivers, including beaches, a number of parks and reserves, and a short walk to Newcastle train station. The suburb’s median unit price climbed 31.9 per cent over the quarter, according to CoreLogic RP Data.

North Shore in Port Macquarie welcomed 34.1 per cent growth, coming in at second place for houses over the September quarter, but has limited residential offerings.

Further up the coast, almost on the border of Queensland, lies Murwillumbah, fifth on the list for units with 31.5 per cent growth.

Top 5 NSW quarterly growth suburbs (houses)

Colebee ($802,500): 34.5%
North Shore ($600,000): 34.1%
Point Piper ($1,250,000): 33%
Burwood Heights ($1,915,000): 32.5%
Sunshine ($477,500): 30.8%
Source: CoreLogic RP Data, based on median price growth

Top 5 NSW quarterly growth suburbs (units)

Wetherill Park ($410,000): 34.4%
Bella Vista ($545,000): 33.7%
Newcastle East ($956,500): 31.9%
The Rocks ($1,365,000): 31.9%
Murwillumbah ($213,000): 31.5%
Source: CoreLogic RP Data, based on median price growth

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