Western Sydney dominates list of largest sales volumes for 2022 … – realestate.com.au

Sam Murden
First published 28 Dec 2022, 4:30am
Hopeful Sydney-siders checking out the Sydney rental market in the Eastern Suburbs. Picture: NCA NewsWire / Jeremy Piper
An extensive new report has revealed Western Sydney to be a major hotspot for properties selling in 2022, with many suburbs recording over 400 sales for houses and units.
PropTrack’s latest report looked at the top 10 suburbs with the highest total volume of sales across NSW this year, many of which had seen high demand amid rising prices and interest rates.
Of the 10 suburbs on the list for the highest volumes of houses sold, seven were located more than 40 kilometres away from Sydney’s CBD.
All of the suburbs which saw the highest volume of house sales are located in Western Sydney.
This is in contrast to the highest sales volumes for units in suburbs, which saw just two of the 10 located in Western Sydney.
Parramatta saw the highest volume of sales in NSW, with 518 units sold over the past 12 months and a median sale price of $605,000.
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The median price in Blacktown has grown by 4.1 per cent over the past year, costing $895,000 for a home.
Units in Liverpool were also in high demand, coming in at second place with 487 sold in the same time period – albeit with a lower median sale price of $475,000.
The figures fall in line with recent PropTrack data that indicated Western Sydney as the centre for the biggest property price rises in 2022.
Over the past 12 months, 487 units have been sold in Liverpool
Rising house prices also forced buyers with more modest budgets to seek western suburbs as they provided an easier entry into the market.
PropTrack economist Angus Moore said that a greater volume of houses for sale resulted in less pressure on home buyers to pick up properties in these areas.
“It’s very rare to find a detached house in inner or middle Sydney for under $800,000 these days,” Mr Moore said.
Parramatta topped the list for most units sold in 2022, with 518 sold.
“A lot of the suburbs on the top of the list are bigger in size and thus have more homes and more sales. These are areas of Western Sydney that have been doing well over the past few years, with large developments like the airport actively underway.”
Blacktown topped the list for houses, seeing 450 properties selling throughout 2022.
It experienced a 6.5 per cent growth over the last year with a median house price of $900,000.
As Sydney house prices increase, buyers moved west for more affordable properties. Picture: NCA NewsWire / Jeremy Piper
According to McGrath Blacktown agent Joel Hollings, Blacktown is a young family suburb with high levels of employment and relatively new homes that are popular for those working in Parramatta.
“The proximity to major arterial roads: M2, M7, and M4 are all on the edge of the suburb – making it easier to travel from the south coast to north coast as well as commuting into the city,” Mr Hollings said.
“Topographically it is one of the highest points of Sydney. A couple of streets have views of the Harbour Bridge as well as the Blue Mountains.”
Blacktown is considered a young family suburb with high levels of employment. Pictures is 122 Stephen St, which sold in July this year for $760,000.
It’s not all bad news for buyers who don’t wish to move out to Western Sydney, with several suburbs with units making the list.
The Northern Beaches suburb of Dee Why saw 475 units sold, while Ryde and Randwick had 419 and 392 units selling respectively.
“For many people who’ve fixed their interest rates, that term ends next year so there’s likely to be stock coming onto the market as those rates put pressure on households.”
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