07.24.2018 Suburb Spotlight

The Most Searched Suburbs In Sydney’s East

The Most Searched Suburbs In Sydney’s East

New data from domain.com.au has revealed the most searched suburbs for properties in Sydney during February this year – and a huge proportion are in the east.

Here’s a look at the reasons behind the popularity of the suburbs that topped the list.

Paddington: Most searched eastern suburb for sales

In terms of properties for sale, the top 10 list of searched-for suburbs was dominated by locations in the east. While Mosman was the most popular search term, due at least in part to its size, the relatively smaller suburb of Paddington was the second most popular suburb for buyers.

This is no surprise – we’ve tracked the ripple effect bringing attention to Paddington since early last year.

Randwick: The focus point for families

In third place on the list, Randwick continues to gain traction with a wide range of buyers, but it’s families that are most focused on this area. Part of the reason for this is that Randwick and neighbouring Centennial Park offer larger entry-level homes than their beachside neighbours, and both will eventually benefit from the CBD & South East Light Rail project.

There’s also great investment potential in the units, with the hospital and the University keeping rental demand strong.

Surry Hills: Still the inner city hotspot

Surry Hills is the obvious choice for buyers prioritising proximity to the city, but its position in sixth place is also due to the suburb’s popularity with investors. CoreLogic data shows steady growth in house prices since at least early 2016 here, with average annual growth currently sitting at 7.97%.

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Rose Bay: The quieter harbourside option

Rose Bay followed Surry Hills at number seven on the list – a testament to the popularity of this small harbourside suburb dominated by parkland. Hopeful buyers are searching for Rose Bay in the hope of finding one of its well-priced older character-filled units, which are currently showing significant 12-month growth of 16% and average annual growth of 8.24%.

Coogee and Bondi: Sydney’s most desirable eastern beaches

The top beachside suburbs are still the most well-known: Coogee was the ninth most search-for suburb on the list, followed by Bondi in tenth place. Coogee is the slightly quieter option for buyers with a budget around the $3 million mark, while Bondi still offers a median house price of below $3 million and fairly stable unit prices at just under $1.2 million.

Investors: Where to find strong rental demand

Looking at the top 10 most searched-for suburbs for rentals, we see a stronger focus on the inner city and a move away from the eastern beaches. Investors looking for strong rental demand will be able to rely on Surry Hills and Paddington, which take second and third place on the list respectively. Nearby Darlinghurst is another reliable choice – the fifth most searched-for rental market in February.

Slightly further from the city, Randwick was the sixth suburb on the list, once again underscoring its popularity with a wide range of property hunters. Bondi rounds out the list in tenth place, where weekly rent is just over $700 per week and gross rental yields are currently at 3.28%.

Of course, search frequency is only one indication of a suburb’s popularity with buyers. But the fact that this Domain data snapshot is dominated by Sydney’s eastern suburbs shows just how resilient these areas are and their continued appeal.