Sydney’s most in-demand suburbs
BUYERS are flocking to Sydney's premium regions, with the northern beaches dominating a list of the top ten most in-demand suburbs.
Newly released research from the realestate.com.au Property Outlook Report had northern beaches suburb Collaroy Plateau in top spot for both houses and units combined, followed by Birchgrove in the inner west and Centennial Park in Sydney's east.
There were three other suburbs from the northern beaches in the top ten, with Allambie Heights, North Manly and North Narrabeen all included.
They were joined by Paddington in the east, Bonnet Bay and Oatley in the south and Holgate, which being in the central coast was the only outlier.
Demand across Sydney as a whole has dropped by 23 per cent over the past year, with high prices forcing investors away, while jobs growth and rental demand in the Harbour City is less attractive than Melbourne.
Realestate.com.au chief economist Nerida Conisbee said the strength in premium Sydney was an indication that there were a number of professionals in the market.
"While the headline numbers are negative, across suburbs, there is a high degree of variability," she said.
"If you are a well-paid professional in Sydney right now, things are okay. Similarly, business growth is doing quite well, benefiting those who are self-employed."
Despite Tasmanian suburbs taking out the top two spots nationwide, both Collaroy Plateau and Birchgrove made the national list at six and 10 respectively.
Simon Carroll of Cunninghams Property Balgowlah said there was strong demand in the suburb for well-finished or renovated properties.
"Premium, completed properties are attracting those big audiences, while run-of-the-mill homes are getting similar numbers to everywhere else," he said.