Price trends inner west Sydney (Croydon, Burwood, Strathfield) from 16-19?

Clarification: I’m referring to units only.

I wasn't paying close attention to what was happening during this time in these areas. From what I can gather the market continued going up through 2016, it peaked at 2017....then 2018 was solid but tapered off, and crashed by what seems like a decent amount in 2019? (I'm seeing quite a lot of properties at least 10-15% down from their peak in 2017).

Does this about sum up how these areas went? Or were there some other trends I missed?

I'm looking to buy in one of these areas so I'm quickly trying to get a feel for what the last ~5 years have been like here. I know it's not an indication of the future at all but I'm just trying to immerse myself as much as I can.

 

You probably want to look at units and houses separately, at the very least.

 

thanks I updated the post to clarify.

 

Your spot on with the 10-15% down from peak for older style walk-ups. Strong recovery in late 2019 from this dip, however now its sitting around 15% down from peak again in Strathfield. I'm not too sure about Croydon, as I perceive it as a more 'Australian' suburb. COVID would have hit Burwood and especially Strathfield much harder as there was a very large temporary working visa population from eastern asia (mainly Korean) and the subcontinent that rent in Strathfield.

For newer builds, some settlement valuations have come in lower or similar to 2015 OTP prices in developments such as Burwood Grand.

The Strathfield 2021 LEP draft will be coming out within the next 12 months, so my pick would be to buy an older style walk-up in Strathfield Council or the portion of Strathfield that is under Burwood Council's LEP.

 

Thanks for that, what's an LEP and how would that change things in 12 months?

 

Here's the numbers in a table:

The total numbers of sales are in green. The median selling price is in black.

 

Local Environmental Plan.

Read more here: Local Planning and zoning

 

Makes sense. The potentially oversupplied areas with a large Asian presence, and a lot of newly built units or newish units are suffering.

Croydon is much less so in this regard than Burwood and especially Strathfield. Presume the numbers would have a similar trend in places like the CBD, Hurstville, Kogarah, Mascot, Rhodes etc

 

thanks. I’m curious if there’s anything in the upcoming one that might give one reason to take pause. The way he worded it sounded like people are anticipating something bad. Is Strathfield going to be flooded with high rises or something based on the next LEP?

 

What I'm trying to say is that something good may happen if you own an older style walk-up in the Strathfield, Homebush, Burwood precinct. Especially if density is increased in this pocket. I suggest having a look at the Strathfield Local Planning Statement LSPS 2040 and the Burwood LSPS as well.

https://shared-drupal-s3fs.s3-ap-so...ning+Statements/Strathfield+2040_LSPS_v10.pdf

Walk-ups in areas like Macquarie Park have 3xed in price due to rezoning i.e around Cottonwood Crescent pocket.