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Macmasters Beach house prices have more than doubled.
Property has proved a winning investment for a number of Sydneysiders who purchased in 2017.
New data from PropTrack reveals a handful of suburbs where home prices have more than doubled in the last five years, with homeowners in certain postcodes raking in more than $250,000 a year in capital gains.
Most of the suburbs with the biggest growth in house prices were in lifestyle areas in the Central Coast or Hawkesbury while unit prices soared in several coastal locales.
Lifestyle suburbs have been popular throughout the pandemic.
House prices in the Central Coast suburb of Macmasters Beach skyrocketed 156 per cent to a new median of $2.43m, representing an increase of $1.48m over five years, or $296,000 a year.
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The median house price in the Baulkham Hills suburbs of Box Hill soared 144 per cent to $1.27m – $748,000 more than the 2017 median of $521,200.
North Avoca houses went up $1.3m in five years.
North Avoca houses increased 132 per cent to a new median of $2.4m, representing a $1.365m increase.
Units in Avalon Beach rose 68 per cent, or $505,000, to a new median of $1.245m, while the only inner west suburb to make the list, Annadale, had unit growth of 62 per cent to a median of $1.08m.
PropTrack economist Angus Moore said much of the five yearly growth occurred throughout the pandemic when buyers chose lifestyle over proximity to the CBD.
PropTrack economist Angus Moore.
“We’ve seen extremely brisk growth in these suburbs,” he said.
“These are all areas that people moved to during the pandemic.”
“We have seen buyers putting bigger premiums on larger homes, such as a house instead of a unit, or a larger backyard.”
He said while the growth had been significant over the past five years, the current downturn could dent the level of performance in the year ahead.
PropTrack forecasts property prices in Sydney to fall 15-18 per cent from peak to trough.
“Most of these house markets are on the less affordable side,” he said.
This Box Hill house sold for the highest price achieved this year in the suburb at $3.49m.
“In an environment of higher mortgage rates, reduced borrowing capacity and strains on affordability, we’ll probably see some buyers substituting for more affordable areas.”
“That may weigh on some of these suburbs.”
Top 10 suburbs with the greatest 5 year growth in median sale price – Houses
| Rank | Suburb | region | Current median | 5 year % increase | 5 year $ increase |
| 1 | Macmasters Beach | Central Coast | $2,430,000 | 156% | $1,480,000 |
| 2 | Box Hill | Sydney – Baulkham Hills and Hawkesbury | $1,270,000 | 144% | $748,800 |
| 3 | North Avoca | Central Coast | $2,400,000 | 132% | $1,365,000 |
| 4 | Gables | Sydney – Baulkham Hills and Hawkesbury | $1,600,000 | 114% | $851,000 |
| 5 | North Kellyville | Sydney – Baulkham Hills and Hawkesbury | $1,585,000 | 112% | $837,500 |
| 6 | Copacabana | Central Coast | $2,001,000 | 100% | $1,001,500 |
| 7 | Glenning Valley | Central Coast | $1,212,000 | 87% | $564,500 |
| 8 | Vaucluse | Sydney – Eastern Suburbs | $8,750,000 | 82% | $3,950,000 |
| 9 | Wamberal | Central Coast | $1,800,000 | 81% | $808,000 |
| 10 | Avoca Beach | Central Coast | $1,683,000 | 78% | $734,500 |
Source: PropTrack.
Top 10 suburbs with the greatest 5 year growth in median sale price – Units
| Rank | Suburb | Region | Current median | 5 year % increase | 5 year $ increase |
| 1 | Avalon Beach | Sydney – Northern Beaches | $1,245,000 | 68% | $505,000 |
| 2 | Annandale | Sydney – Inner West | $1,080,000 | 62% | $415,000 |
| 3 | Ettalong Beach | Central Coast | $873,000 | 52% | $298,000 |
| 4 | Long Jetty | Central Coast | $657,000 | 49% | $217,000 |
| 5 | Richmond | Sydney – Outer West and Blue Mountains | $650,000 | 48% | $210,000 |
| 6 | Caringbah South | Sydney – Sutherland | $1,800,000 | 47% | $575,000 |
| 7 | Gorokan | Central Coast | $540,000 | 46% | $170,000 |
| 8 | Umina Beach | Central Coast | $843,000 | 45% | $260,500 |
| 9 | Waverley | Sydney – Eastern Suburbs | $1,170,000 | 45% | $361,000 |
| 10 | The Entrance | Central Coast | $665,000 | 45% | $205,000 |
Source: PropTrack.
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