Revealed: Rapid rate of Sydney’s most in-demand suburbs

William Halteh, with wife Nicole, are selling their home in Marsden Park, one of Sydney’s most popular areas. Picture: Dylan Coker

Homes have begun to sell at an extraordinary pace across parts of Sydney as buyers gear up for further interest rate cuts.

PropTrack data revealed multiple areas where homes are being purchased at a rate of more than one home every single day, with more than 365 sales over the past year.

These suburbs accounted for a large share of the total properties being transacted annually, with the top 40 most popular suburbs alone driving 22 per cent of all home sales across Greater Sydney.

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REA PropTrack Senior Economist Anne Flaherty

The data revealed suburbs houses have sold over 365 listings in the past 12 months were Blacktown, Marsden Park and Castle Hill.

While top performing suburbs for unit sales over the past year included Parramatta, Liverpool, Dee Why, Epping and Ryde.

PropTrack Senior Economist Anne Flaherty said these suburbs equally indicate where people are most frequently buying – due to a combination of accessibility and lifestyle appeal.

“First and foremost is the actual size of the suburb, an area like Blacktown for example is a relatively big suburb,” she said.

“Then also homes that may meet someone’s expectations for a period of time but not necessarily for the whole of their lifetime.

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825/45 Macquarie Street, Parramatta is currently listed with a buyer’s guide of $550,000.

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“There are a few there which are relatively more affordable areas and so they might be properties that people upgrade from.”

According to Ms Flaherty, this frequency may also alleviate rapid rising prices in these suburbs in contrast to tighter-held locations.

“When we do see a lot of homes coming up for sale, it means that there is more choice for buyers in those areas and can help to prevent prices growing as rapidly as they would if fewer homes were coming up for sale,” she said.

“Looking at Blacktown for example, the median house price is well below the greater Sydney house price, so it is what you would consider by Sydney standards, relatively affordable.

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404/100 Castlereagh Street, Liverpool has a price guide of $530,000- $550,000

“I think for people looking to buy houses at a more affordable entry point, it’s a great place to go, we know after a while those areas do see a good capital growth and for a lot of people it’s their first step into the property ladder and then they upsize, perhaps needing a larger dwelling or perhaps want to live closer into Sydney for example.”

Ms Flaherty said unit development over the last decade in these suburbs was another factor.

“Liverpool and Blacktown, they are areas where there is a lot of development happening so that’s another factor,” she said.

William Halteh and his wife Nicole, who are expecting their first baby in October, are selling their home in Marsden Park, one of the most popular areas, and shared why they think the suburb has been so appealing.

“It was fairly new to the market and it was going to be an exciting area to live in, a lot of land available and a whole new community,” Mr Halteh said.

“We built our home and we’ve been living here for about four years now.”

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William and Nicole Halteh. Picture – Daily Telegraph / Dylan Coker

Ms Haltech said it was an attractive area with everything close by.

“It’s family orientated, there’s schools nearby, the shops are down the road, we have a lot of friends around as well,” Ms Halteh said.

“There are nice walking tracks and multiple parks around the area so you can go on a nice stroll – the scenery is beautiful.”

Ms Haltech added the area is also rapidly progressing.

“They keep expanding it,” she said.

“They are adding more shopping centres, there’s a new high school that has just opened and there’s a metro apparently that will be built and coming along here for the Western Sydney airport,” Mr Halteh added.

The Halteh’s selling agent Kavishay Prasad of LJ Hooker Schofields said the high amount of properties transacting in suburbs such as Marsden Park was likely due to its fairly new offering.

“There’s a lot of greenery, a lot of parks and still very much a developing community,” he said.

“The family-friendly component of Marsden Park, which is why there are so many young families entering the market, particularly with mention of the property at 89 McAlister Parade.

“A lot of buyers have been first homebuyers, young families, people that are looking to solidify their living in the suburb for the next five to ten years.”

PropTrack data confirmed combined averages for house and unit sales over the past year soared in suburbs such as Blacktown, Ryde, Liverpool, Parramatta and Epping.

Four years later, the Haltech’s are now making a move closer to family for their next chapter.

“Because we are expanding our family it will be nice to be closer where I’ll be able to have that support,” Ms Haltech said.

“It is a bit crowded at the moment – because it’s such a popular area,” Mr Haltech said.

“At the moment, we’re currently looking in the Narellan, Mount Annan areas, Camden also because of the scenery as well.”

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