The report notes that some of Sydney's western, south-western and Blue Mountains areas are likely to see stronger house price growth, including suburbs such as Springwood, Minto, Wemmerley, Liverpool and Pritchard Hill, which are expected to grow by around 5 per cent.
According to the report, Shore Financial analysed hundreds of Sydney suburbs through machine learning and selected the 25 suburbs with the highest future potential. The suburbs were categorised into groups and ranked according to the current median home listing asking price, which predicts how house prices will perform over the next six months.
Bossley Park prices were predicted to increase 5 per cent in the next six months.
CEO Theo Chambers said most Sydney suburbs experienced growth in 2023, while the market is likely to see more changes in 2024. The report also noted that house price growth is expected to be potentially stronger in areas located in western Sydney, the south-west and the Blue Mountains, even outpacing growth in some affluent suburbs.
In addition to these areas, the report also mentions several other suburbs such as Bosley Park, Green Valley, Bass Hill, George Hall, Warimu, Middle Dural, Collaroy Plateau, Allambie Heights and Forestville, which are also thought to be on track for house price growth over the next six months. Mr Chambers noted that the results of these forecasts provide an important reference for home buyers, but also emphasised that home buyers should look at the long term, focusing on where they want to live and what they can afford, rather than focusing too much on short-term price movements.
Overall, this report shows the likely future trend of house prices in Sydney's suburbs and provides useful information and reference for those planning to buy or invest in a home. However, as Mr Chambers points out, home buyers need to take into account long-term factors to make a rational decision. The release of this report also reflects the application of artificial intelligence and machine learning technologies in property market analysis, providing us with more comprehensive and accurate data analysis to help people better understand and respond to market changes.