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From Bowral to the beaches, key migration trends and suburb analytics showcased in DiJones Annual Market Report

Sep 15, 2020 | by DiJones

From Bowral to the beaches, key migration trends and suburb analytics showcased in DiJones Annual Market Report

  • The report includes data on 481 suburbs, increasing from 174 suburbs last year, in line with DiJones office expansion.
  • Reports are broken down into key geographical regions including Southern Highlands, Eastern Suburbs, Inner Sydney, Inner West, Lower North Shore, North Shore, Northern Beaches, Northern Suburbs and Hills and the Central Coast.
  • Insights include median suburb values, suburb demographics, where buyers are moving from, rental yield and more.
  • Data is collated from Domain and CoreLogic.
  • Key buyer trend: Buyers moving from the Eastern Suburbs to the Northern Beaches.
  • Snapshot of the market includes commentary from DiJones CEO Rob Ward.

Including data from 481 suburbs, the report provides a comprehensive overview of the real estate market in nine key regions, from the Southern Highlands to the Central Coast.

Empowering consumers who are buying, selling, or renting a property, the report includes a diverse range of insights from median suburb values to rental yields, and buyer migration patterns.

The report contains an abundance of positive insights reflective of Sydney’s 13% increase in dwelling values over FY20. At the top of the list was the inner-west suburb of Annandale, where the median unit price rose an incredible 43% to $1,144,000 based on 43 sales.

Units in blue ribbon suburbs saw similar growth in median prices with Warrawee, Millers Point, Dover Heights, Bronte and Rushcutters Bay all rising between 36% and 40%.

Similarly, houses with proximity to Sydney city saw the largest increase in median prices. The highest increase seen in the suburb of Northwood in Lane Cove with a 34% increase to $3,710,000. The popular suburbs of Bondi McMahons Point and Longueville also saw increases between 25% and 27%.

It is clear micro markets have been created in highly desirable suburbs, resulting in significant median price increases. Often this is seen across smaller sample sizers and not reflective of broader market movements.

For the second year in a row Dee Why saw the largest number of sales, with 622 transactions in the beachside suburb.

DiJones CEO Rob Ward said the industry leading report combines data from market leader CoreLogic and Domain insights, offering a report not offered by any other agency.

“Accessible to all, this digital report is easy to navigate and provides relevant data assisting consumers on their property journey.

“Available on mobile and desktop devices, the breakdown of data is easy to digest and bundled with consumers user experience in mind. We had over 2,000 downloads in the first 12 hours the report was live,” he said.

DiJones real estate has recently accelerated expansion, with the core of their strategy and success a focus on innovation and buyer migration trends across Sydney and the Southern Highlands.

“In August alone we saw an 83% clearance rate for auction campaigns, with 44 of the 53 properties scheduled to go to auction transacting within the month. Looking forward, we have 75 auctions scheduled in the next four weekends,” stated Mr Ward.

“Over the next for weekends we have another 75 auctions scheduled.

“Likewise, our investment management team have welcomed a decline in vacancies and days on market, down to the lowest levels in five months. With expats returning to Sydney, we are seeing a strong demand for prestige lease opportunities, particularly between the $3,000 to $6,000 a week mark.”

Statistics at a glance
Including data from both Domain and CoreLogic, the report covers 481 suburbs collated over the past financial year, from 1 July 2019 to 30 June 2020. Focusing on key regions, a summary of insights is:

Greatest 12-month change in median sales prices for units

  • Annandale, increase 43.5% to $1,144,000

Greatest 12-month change in median sales prices for houses

  • Northwood, increase 34.2% to $3,710,000

Shortest days on market

  • Terrey Hills, 14 days

Highest median sale price

  • Darling Point at $6,800,000

Highest number of sales in the past 12 months

  • Dee Why 558 (units)
  • Schofields and Marsden Park both at 444 (houses)

Highest median rental yield

  • Waverly, units 6.8%

Median asking rents

  • Highest – Bellevue Hill $2,425
  • Lowest – Mittagong $360.00

Note: We define the median as the middle number in a sorted, ascending, or descending list of numbers.

Key trend: Buyers moving from the Eastern Suburbs to the Northern Beaches

A key trend identified through the report is the number of buyers moving from the Eastern Suburbs to the Northern Beaches.

Most significantly, it was found that 32% of buyer interest in Palm Beach came from the Eastern Suburbs. With the median age being 53 it is clear this trend demonstrates retirees moving to Palm Beach, taking advantage of a slower and quieter beach lifestyle. Similar statistics were seen in Avalon, Bilgola and Church Point with 18% to 25% of buyers demand from the Eastern Suburbs.

In Collaroy Plateau where 78% of the population are families, 13% of buyer interest came from the Eastern Suburbs. Offering larger blocks of land and homes with renovation potential, the median house price is $1,751,000.

Further down the beaches, Dee Why saw 11% increase of buyer demand from the Eastern Suburbs. Here, the median age of 35 suggests Dee Why offers an opportunity for first home buyers to enter the market, with the median price for units $800,000.

This pattern is repeated from Whale Beach to Manly.

The DiJones difference

DiJones sold 749 properties over FY20 worth more than $1.43 billion, assisting over 1,498 families on their property journey, alongside an investment management team who are entrusted with managing over 4,000 properties.

At the core of our success and strategy is our intense focus on where buyers are moving to and from. Our ten offices have strategically been placed across Sydney and the Southern Highlands in line with these key buyer migration trends.

In the last 12 months we have opened offices in Lindfield, Willoughby, and Mona Vale as our data showed us this is where our clients demanded our service offering.

With a centralised database of over 300,000, we can quickly reach qualified buyers across the regions we service, offering an unparalleled client experience.