According to SuburbData, these undervalued areas not only have lower property prices but also have seen recent price growth lagging behind neighboring regions, indicating potential for future increases. Here are some suburbs that are particularly noteworthy:
Kareela is viewed as an undervalued market with a median house price of AUD 1.6 million, which is AUD 112,000 lower than neighboring Sutherland Shire areas. Although buyer demand has been sluggish recently, signs of recovery make Kareela a hotspot for prospective buyers.
North Balgowlah is another undervalued area where the typical property price is AUD 2.1 million, approximately AUD 485,000 cheaper than nearby regions. The area has seen minimal growth in recent years, suggesting significant appreciation potential.
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Located in Western Sydney, Acacia Gardens offers an affordable entry into the real estate market with a median house price of AUD 1.3 million, about AUD 75,000 cheaper than surrounding suburbs. Its price advantage makes it a popular choice for potential investors.
Near Sydney CBD and the Inner West, Lilyfield has a high median house price of AUD 2.3 million. However, this is still about AUD 106,000 less than many neighboring areas. The data indicates that Lilyfield’s prices need to rise by 13% to match nearby regions, showcasing future growth potential.
As a mature suburb close to Sydney CBD, Willoughby offers attractive property prices compared to nearby North Sydney. The prices in Willoughby are on average AUD 297,000 lower than in adjacent areas, making it a significant consideration for investors and homebuyers.
Lane Cove shows strong signs of being undervalued, with property prices AUD 325,000 lower than neighboring regions. Recent large-scale renovations and facility improvements have increased its popularity, attracting numerous buyers due to its improved quality of life and amenities.
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Although traditionally favored by investors, Ashfield’s property prices are still AUD 274,000 lower compared to surrounding areas. The data shows that Ashfield’s prices need to rise by about 17% to catch up with neighboring regions.
Normanhurst is renowned for its leafy streets and quality schools. Property prices in this area are AUD 206,000 cheaper than nearby regions, and the gap between prices and the long-term trend indicates that the area’s property values are higher than normal.
These suburbs reflect diverse opportunities in Sydney’s real estate market, from more affordable entries to areas showing potential for significant value growth. Investors and buyers looking for undervalued properties may find these suburbs offer promising prospects for future appreciation.
