The St George district is prominent among areas of Sydney where house prices are projected to shrug off the effects of coronavirus and record the biggest price rises over the next few years.
Beverly Park was second on a list of Top 10 suburbs, with Peakhurst Heights in sixth position, according to the demand and supply analysis by investment research company, Select Residential Property.
Prices in both suburbs are forecast to jump by 13 per cent, with the present median of $1.34 million in Beverly Park to rise to $1.52 million in two years, and in Peakhurst Heights from $1.13 million to $1.27 million.
Four Sutherland Shire suburbs - Illawong, Como, Kareela and Grays Point are also in the Top 10.
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Stan and Eva Delic, who have lived in Beverly Park for 20 years, are not surprised their suburb has been placed behind only Dover Heights.
"It's a beautiful place to live," said Mrs Delic, whose rose bushes help adorn the area.
Her husband said they fell in love with the suburb because it was "so open and spacious and close to everything - parks, golf club, beach and and shopping". "We also have the best neighbours," Mr Delic added.
PRDnationwide Oatley agent James Walters said the median price of properties in St George had probably dropped by about five per cent on this time last year.
"I think the low volume of properties coming on to the market has been responsible for holding prices," he said.
"Being out in the marketplace, we are finding it a little better than what some people think, based on the number of people we are meeting at inspections.
"Having said that, there is a little bit of patchiness. Properties which tick the boxes, which are well presented and close to infrastructure such as train stations, are being very well received and buyers are willing to compete. With others, buyers will buy at the right price."
McGrath St George agent Kieran Bresnahan said he believed the market had regained losses since this time last year and was showing "quiet a bit of strength", due to a number of factors including credit appearing to be more available.
"One thing we are seeing is, with Covid and working from home, people are looking for properties with more space," he said.
- Visit: realestateview.com.au
Murray Trembath
St George and Sutherland Shire Leader reporter covering politics, urban affairs, council, development and general community news. Email: mtrembath@theleader.com.au
St George and Sutherland Shire Leader reporter covering politics, urban affairs, council, development and general community news. Email: mtrembath@theleader.com.au
