Sydney has fewer suburbs where the median dwelling price sits under $1 million than at any point since the CoreLogic series began. In April, only ten still qualified. The list is worth knowing.
Where the sub-million suburbs are
Nine of the ten are in the outer south-west or outer west of Sydney: Willmot, Whalan, Emerton, Tregear, Mount Druitt, Bidwill, Lethbridge Park, Blackett, and Hebersham. The tenth, Cartwright, is in the outer south-west.
What the number does not capture
All ten suburbs have significant house price growth trailing the metropolitan average, meaning the sub-million position is likely to persist for at least twelve months. All ten sit at least 45 minutes from the CBD by public transport. All ten have infrastructure investments underway.
The list is, in policy terms, a demography of affordability constraint in modern Sydney. In consumer terms, it is a set of options that still exist and that will not, on current trends, exist in five years.
