Ermington – Rydalmere – 84 approved demolitions in 2022/23

Concord – Mortlake – Cabarita – 79

Toongabbie – Constitution Hill – 72

North Ryde – East Ryde – 71

Umina – Booker Bay – Patonga – 71

Panania (South) – Picnic Point – 69

Eastwood – 68

Ryde – North – 67

Lalor Park – Kings Langley – 64

Oatlands – Dundas Valley – 63

Knocking down an old home to build a duplex has been a “challenge” yet rewarding journey for Sydney couple Minh and Van Hoang.

The Hoangs bought a run down home on 841sq m on Maze Ave in Ryde in 2021.

“We had been looking for something we could knock down and develop,” Mr Hoang said.

“Ryde is a popular location for young families, so close to the park and shops. We thought it would be a great investment and option for buyers.”

Mr Hoang said it was part of the couple’s investment strategy, with construction of the five bedroom duplex recently completed and now on the market.

The Hoang’s bought this old home at 6 Maze Ave, Ryde in 2021 with plans to knock it down.

---

Construction has recently finished with the five bedroom duplex for sale.

---

However he said the journey came with challenges.

“It was tough dealing with a lot of wet weather in 2022. We also had supply issues with China closing down,” he said.

“It has been a challenging journey but it was always going to be. Our designer and builder have done a really good job. We decided to sell now as the market is showing good signs and Spring is a good time to make the move.”

McGrath – Epping’s Wayne Vaughan said new housing was popular in the Ryde and surrounding market, with a lot of buyers of Asian descent. He said the Hoang’s duplex has had close to 100 inspection groups after two weeks on the market.

An old home at 5 Maple Crescent, Ermington sold in 2018 for $2.1m.

---

A new five bedroom duplex at 5 Maple Crescent, Ermington is on the market.

---

“There’s a lot of demand for new in this area,” he said. “We are all time poor and people want to move in with nothing to do.”

Mr Vaughan said Ryde Council had flexible rules around duplex building and understood the need for new properties.

“We see a lot of buyers coming from apartments on the other side of the river on Rhodes and Wentworth Point,” he said. “These new duplexes fit the mould perfectly.”

Ray White Group data analyst William Clark said the Sydney demolition data had revealed suburbs with large community developments.

“With some of these suburbs, there’s been a lot of government investment and large infrastructure projects,” he said.

Before shot of 67 Dorothy St Rydalmere which sold in 2020 for $1.19m.

---

A brand new duplex for sale at 67 Dorothy Street, Rydalmere with a price guide of $1.75m

---

“There’s huge development around the foreshore of Ermington and Rydalmere. There’s been a lot of investment and that gets matched with residential development.

“Older buildings are being knocked down and replaced with higher density buildings … better quality builds. It can be gentrification but it can just be urbanisation as well where there’s just higher density units being put up.”

Mr Clark said it was interesting to see high numbers of demolitions in some of the inner suburbs of Concord and Ermington.

“The government investment motivated a lot of quick development and urbanisation on a residential front … more houses being converted into units so perhaps there’s zoning changes. Older homes are also getting a lot more attention now,” he said.

A home at 7 Laundess Ave Panania sold for $1.35m in 2021.

---

And replaced with this brand new five bedroom home which sold for $1.72m in 2022.

---

MORE

Huge home price record for ‘undiscovered’ Sydney suburb

‘$100K a year’: home prices set to surge

He said further research showed the approvals didn’t just stop at demolitions with new builds and plenty of construction activity in the areas identified.

“You would think not much is happening with all the construction issues but there’s definitely hot spots,” he said.

William Clark says Sydney is always growing but not necessarily just in the outer regions.

---

“Sydney seems like it’s always growing, but it’s not necessarily just in the outer areas. Places that you don’t think of are gentrifying an changing/urbanising so quickly.”

REGIONAL NSW HOTSPOTS

Balgownie – Fairy Meadow – 51 approved demolitions in 2022/23

Woonona – Bulli – Russell Vale – 45

Figtree – Keiraville – 41

Charlestown – Dudley – 40

Lambton – New Lambton – 40

Merewether – The Junction – 37

Adamstown – Kotara – 35

Thirroul – Austinmer – Coalcliff – 34

Warilla – 33

Byron Bay – 30

It comes as the Master Builders Australia (NSW)’s latest building and construction forecasts reveal construction activity has increased to an estimated $67.27 billion during 2022–23 – up 6.7 per cent compared with the previous year.

However the report reveals like most of Australia, “new home building in NSW is currently in retreat following the peak reached during the pandemic”.

“A total of 59,345 new homes were started across the state during 2020–21. We expected that 2023–24 will mark the low water mark, with 47,935 new dwelling commencements,” the report stated.