Sydney’s slowing property market has improved affordability in several key beachside suburbs. The most popular searches include Freshwater, Fairlight, Queenscliff, Collaroy Plateau and Dee Why on the northern beaches.
These areas received up to five times more property searches than the Sydney average. Kirribilli, McMahons Point and Killarney Heights on the northern side also proved just as popular with potential buyers looking to secure a property that was once beyond their budget.
With a median unit price of $770,000 Dee Why is currently Sydney’s cheapest beach suburb.
Outside of Sydney…
Byron Bay and the surrounding areas, with it’s Sydney prices and improving local jobs precinct, were the most popular outside of Sydney for those looking for a sea change.
The Richmond-Tweed regional area on the far north coast of NSW, has bucked the trend of falling Sydney prices with an increase of 2.9 per cent in prices over the past 12 months.
The Hunter Valley region, excluding Newcastle, has recorded an increase of 2.5 per cent. Coffs Harbour (1.9 per cent) and the Central West (1 per cent).
CHEAPEST NSW BEACH SUBURBS (by median price)
- Stuarts Point $341,000 (houses)
- Nambucca Heads $390,500 (houses)
- Batemans Bay $403,000 (houses)
- Batehaven $413,000 (houses)
- Denham Beach $440,000 (houses)
CHEAPEST SYDNEY BEACH SUBURBS
- Dee Why $770,000 (units)
- Brookvale $779,000 (units)
- Newport $812,000 (units)
- Freshwater $820,000 (units)
As with any change in any type of marketplace, like we are seeing in Sydney property market at the moment, there are hidden opportunities emerging – on a daily basis.