The Top Five were featured on his highly respected research platform www.Hotspotting.com.au.
Parramatta, Liverpool, Canterbury Bankstown, Badgery’s Creek Precinct and Inner West make up the Top Five
According to Mr Ryder, the latest data indicates there are now an increasing number of Sydney suburbs classified as rising markets.
“In the first quarter of 2022, Sydney had 126 suburbs classified as rising or consistency markets, half the levels at the mid-2021 peak,” he said.
“In the second quarter of 2022 this rose to 148 and in the latest quarter to 152,” he told property media platform Urban Developer.
“The proportion of rising markets rose from 26 to 30 % over the period.
Mr Ryder said the Greater Sydney market was currently highly segmented with rising markets generally offering a degree of affordability in an expensive city—including outer-ring areas as well as middle-market locations where apartments offered value for money relative to houses.
“Affordability is relative and it’s notable that some of strongest parts of the Sydney market are middle market areas with house prices in the range of $1m to $1.5m and apartments well under $1M,” Mr Ryder said.
Sydney’s top five areas he tips that developers should be targeting in 2023:
1. Canterbury Bankstown
The standout and strongest market overall—helped by its relative affordability and good amenities—with 17 of the 23 suburbs in the analysis classified as either rising or consistency markets.
2. Liverpool
Well on its way to becoming recognised as Sydney’s third CBD, Liverpool is the number one location in NSW for first-home buyers because of its more affordable houses and units.
Extensive new commercial and mixed-use developments have added to existing infrastructure in the suburb and numerous residential developments are under way or in the pipeline.
3. Parramatta
The City of Parramatta is the geographical centre of the Greater Sydney CBD and its second-largest economic centre with a GRP (gross regional product) of $33 billion.
With the Sydney Metro and Parramatta light rail projects promising quicker access to the Sydney CBD, and the $3.2-billion Parramatta Square redevelopment, the city is attracting new business and investment.
4. Inner West LGA
The Inner West market was a prominent part of the Sydney property market’s revival since the onset of Covid.
A key feature of the Inner West market is growing demand for apartments. Many of the area’s suburbs have median apartment prices below the Sydney median. The precinct is well located to benefit from the massive WestConnex and Sydney Metro West transport projects.
5. Badgerys Creek Precinct
Badgerys Creek, the site of the Western Sydney Airport, is destined to become an economic powerhouse.
The region surrounding the airport has been dubbed ‘Aerotropolis’ because of the massive projects planned. At the centre of this development will be the $5 billion Northern Gateway, a planned city featuring an international university and education precinct, a wellness and healthcare centre, Westfield retail entertainment precinct and a hi-tech logistics hub.
Billions are also being spent on road and rail infrastructure to cater for a population that is predicted to swell to around 440,000 by 2041.
Sources: Terry Ryder’s Hotspotting, Urban Developer
-Terry Ryder has been a specialist researcher/writer on residential property for over 35 years and has published four books. In 2006 he created hotspotting.com.au, to help investors find the best places to buy. He is regularly interviewed by television, radio and print media on real estate issues and is widely sought as a public speaker.
