The colloquial term referred to a neighbourhood flanked by Homebush Rd, the Boulevarde, Carrington St, and Hunter St.

It is characterised by wide tree-lined streets lined with large blocks of contemporary mansions, Victorian and federation homes and Californian bungalows.
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However over the past few years, Strathfield has seen significant luxury homes going for auction and selling for anywhere between $4m to $10.9m.

Data from realestate.com.au indicates median house prices have jumped from $2.4m in 2019 to $3.2m in 2021 - a significant level of growth of high-end properties being snatched up by young professionals and their families over the past year.

Last year, selling agent Norman So of Belle Property-Strathfield brought the property of 14-16 Strathfield Avenue to market.

It eventually sold for the current suburb record of $10.9m, $900k above the reserve.

“You can essentially boil down the strength of Strathfield into four main assets: accessibility, family-friendly, community and supply,” Mr So said.

“When you look at Strathfield on a map, it’s close to suburbs like Hurstville and Hornsby - geographically, it’s the centre of the action.”

“Two years ago when buyers would ask me about the entry price to Strathfield, I used to say it was about $2m. Now, I say it’s $3m.”

The greater choice of available housing has helped moderate prices and auction clearance rates are trending lower in the suburb.

Buyers who have indicated interest in Strathfield specifically are seeking a longer-term investment.

“For families looking to move to Strathfield, they are seeking out schools to send their children to from kindergarten to year 12. That’s a long-term, 13 year investment. Buyers understand when I quote them the premium price, they know what they are getting into,” Mr So said.

Despite the rate of growth seen in the suburb, Strathfield is not amongst realestate.com.au’s suburbs which saw the largest jump in prices in Sydney.
Realestate.com.au Economic Researcher Cameron Kusher says the exceptional price growth seen throughout Sydney isn’t just localised to one area.

“Prices have risen on the back of record low interest rates which have driven buyers to seek properties with better features and a location to suit their ideal life style,” Mr Kusher said.
“The main driver of the uptick in housing demand has been families upgrading their home. Strathfield is only 12 km from the city centre and has a lot of local and nearby amenities, so it isn’t surprising that the suburb is so popular with buyers.”
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Originally published as Golden Mile, or Golden Suburb? How Strathfield is becoming Sydney’s El Dorado