Revealed: Sydney suburbs with the longest-staying homeowners

They’ve got a lifestyle so good homeowners rarely leave — but some Sydney suburbs are becoming victims of their own success as residents’ penchant for digging in for the long haul is choking the housing market.

New figures have revealed multiple Sydney pockets where local homeowners are holding onto their properties over two decades, on average, with local homes rarely coming up for sale.

Such hold periods were more than twice as long as the typical ownership tenure for houses citywide: currently 13 years, according to the PropTrack data.

Many of these tightly held suburbs were inner city and Harbourside enclaves where baby boomers moved during the 1980s and 1990s – and never left. They’re now locked up tight, with even cashed up buyers shut out because people rarely leave.

Topping PropTrack’s suburb list was Kirribilli, with an average hold period of 23.89 years.

Following was Bundeena with an average hold period of 22.80 years, then North Epping with an average of 21.47 years.

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Ray White analyst Atom Go Tian.

The PropTrack analysis unveiled 24 other suburbs with average hold periods of 18 years or above.

Ray White senior data analyst Atom Go Tian said demographics and location were two factors driving these results.

“The suburbs topping the list – seem to be more family or lifestyle-oriented suburbs,” he said.

“There doesn’t seem to be a correlation of price.”

Mr Go Tian said these could also be separated into two groups of harbour or family orientated suburbs. Harbour suburbs were prized for their natural settings, while family orientated areas often had some of the best amenities, he said.

“Factors like schools, parks, community development dictate where people would want to raise their families,” Mr Go Tian said.

Margie and John Goddard first moved to North Epping 65 years ago, then to their current address 10 years later.

Margie and John Goddard are selling their home in North Epping of 55 years. Picture Rohan Kelly

“As the family grew and we decided we wanted something a bit bigger and better, we found a new subdivision here in Howard Place – and we bought it,” Ms Goddard said.

“That was 55 years ago and we’ve been here ever since.”

Ms Goddard said their street was just a dirt road.

“Initially it wasn’t expensive, in those days it was quite out of Sydney,” she said.

Raising three children, who are now in their 50s, Ms Goddard said the home was close to local schools.

“Our children grew up knowing lots of other children and we live in a cul-de-sac so they all played on the street, rode their bikes and roller-skated,” she said.

Another factor was community, Ms Goddard said the local shopping centre had everything from a butcher, green grocer, general store to pharmacist.

The Goddard’s are now downsizing in the suburb. Picture Rohan Kelly

“Another thing we are very lucky here, we have very good tradesmen,” she said.

“We know lots of people of course.

“I just think it’s been a lovely place to grow up with children.”

The pair are now selling and downsizing in the suburb.

Their selling agent Catherine Murphy of The Agency North Epping said the suburb is very liveable.

“We are surrounded by bushland – it really feels like a country town in the middle of the city,” she said.

“There’s only 3,000 homes in the suburb so when one does come up, it really does have a lot of eyes on it because they don’t come up that often.”

The Agency’s Catherine Murphy

Kim and John Kelloway are selling their home of 31 years in Raby, where their two sons attended Robert Townson School.

“It has given our family wonderful continuity in terms of the friendships that we have built and the sporting achievements of both of our boys,” Ms Kelloway said.

Their family and friends are also based in the locale.

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Kim and John Kelloway purchased their home 31 years ago in Raby. Picture: Jonathan Ng

“My eldest son is 43 and my youngest is 38, they bought in the area,” she said.

“My husband and I are now watching all of our sons’ mates buy here and now they are raising their children who are going to Robert Townson.”

According to Ms Kelloway, affordability, accessibility to the M5 and public transport were all big ticket items.

Following Ms Kelloway’s retirement, they are now downsizing in the south coast.

The Kelloway’s sons also purchased in the area. Picture: Jonathan Ng

“After all of these years we need to downsize – it’s a three level four-bedroom,” she said.

“We love the home, but a family would really appreciate this home.”

Their selling agent Ozair Turabi of LJ Hooker Ingleburn said suburbs like Raby offer affordable entry prices, allowing extended families to stay locally.

Ozair Turabi

“They’ve had their whole lifestyle and they have kids who are able to buy close by, the parents normally stay longer,” he said.

“If someone had a house in Manly or Coogee, the kids would never be able to buy in the same pocket.”

LONGEST HOLD PERIODS ACROSS SYDNEY SUBURBS

Suburb Median Sale Price 12 months Average hold period years Median Age

Kirribilli $4.60m 23.89 44

Bundeena $1.35m 22.80 50

North Epping $2.41m 21.47 44

Woodpark $1.13m 20.97 33

Bexley North $1.81m 20.63 42

Bonnyrigg Heights $1.29m 20.45 38

Denistone $2.35m 20.39 43

Raby $960,000 19.72 36

Source: PropTrack

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