Several suburbs in the Sydney real estate market have underperformed in the past although Enfield, in the inner western parts, has been outstripping expectations. There is considerable demand for homes in Enfield and year-on-year growth of 22.5% has been witnessed here as well. Median prices have touched $1.6 million in Enfield and this has increased rapidly over the last year or so.
Prices are expected to stabilize somewhat next year and revive in the year 2020 as per reports. Enfield is seeing higher demand due to its proximity to areas like Burwood and Strathfield which are quite popular and coveted residential zones. Several buyers are now perceiving Enfield as a better option as compared to surrounding suburbs which have higher prices of property and yet offers similar amenities and other infrastructure. This is a good family neighbourhood that has been attaining higher popularity for quite some time now.
Median prices have touched $1.91 million in Burwood which is located near Enfield and these have touched around $2.65 million Strathfield. McMahons Point is the suburb witnessing the fastest growth overall in Sydney. The median price changes are close to 50% while other top growing suburbs include Brooklyn, East Kurrajong, Millers Point and Waitara. Even Forest Lodge has been the fastest growing area in the inner west zone with 21.5% of year-on-year growth and median prices touching $1.106 million. Other fast growing areas include Jordan Springs and Brookvale. Median prices have been propelled to greater heights courtesy a major development being launched at Harold Park.