MyCity Sydney Property Report 2023

Getting the invaluable data and trends you need to know before investing in Sydney property has now been put in one central place with the 2023 MyCity Sydney Property Report!

The Sydney MyCity Property Report was designed to help our Ironfish customers understand the pros of investing diversely across the 5 biggest cities nationally in their pursuit to financial success. Each report is designed to help readers understand our major cities by providing the most recent insights and data-driven narration about each region.

Sydney, is the epicentre of Australian real estate; owning a property here means owning a property in a truly global city. Sydney like other cities around Australia is in the middle of a challenging situation, there’s simply not enough housing for its expanding population. With  international boarders open, new migrants arriving monthly, rising rents and low vacancy rates, the pressure is on. The majority of new migrants will rent over purchasing, thus increasing the demand, and impacting the rental market significantly, specifically in the inner city and suburbs with universities, with already astronomical rents. Combined, these factors create a market that is expected to produce extraordinary results for investors over the next 12-18 months.

Experts see Sydney as a multi-speed market in the short-term with affordable sub-million dollar property (the price guide most attractive to first time home buyers and investors), which is forecast to outperform more expensive properties. Prices are expected to pull back, but less so than higher price bands, with the middle to upper housing markets seeing a significant decrease in 2023.  They have seen their high and as interest rates exert significant impact on the more expensive non-tax-deductible home loans, the selling prices at the middle and upper end of the housing scale drive a weighty impact, lowering the median house price. This will result in the inaccurate market perception that all Sydney property is falling in value across the board.

Download this report and take in the unique qualities of Australia’s prized city and find out why Sydney property price grew by 50% in the last three years.