Sutherland Insights - Nov 2024
Sutherland, NSW 2232: A Growing Suburb with Diverse Property Options
Sutherland is a thriving suburb located approximately 30 km south of Sydney's CBD. Spanning 3.7 square kilometers, the area is well-equipped with 13 parks covering 21.2% of its total land area. The population grew by 8.9%, from 9,923 in 2011 to 10,807 in 2016, making Sutherland a vibrant and attractive location. With a mix of young professionals and families, the predominant age group is 30-39 years.
Housing Market Trends
Sutherland’s housing market remains competitive, with the median house price sitting at $1.65 million as of October 2024. Over the past 12 months, 53 houses were sold, with the upper quartile price reaching $1.8 million and the lower quartile at $1.4 million. Houses spend an average of 26 days on the market, reflecting steady demand. The median rent for houses is $700 per week, with a 3.0% rental yield, appealing to both investors and homebuyers.
Unit Market Trends
The unit market in Yowie Bay is limited, with only 3 units sold in the past year. The median unit price stands at $1.54 million, with the upper quartile reaching $1.73 million and the lower quartile at $1.29 million. Despite the small market size, units remain an appealing option for buyers seeking a more affordable entry into this prestigious suburb.
Sutherland
Rental Market
The unit market in Sutherland is highly active, with 305 units sold in the last 12 months. The median unit price is $726,000, with the upper quartile at $845,000 and the lower quartile at $650,000.
Units spend a brief 15 days on the market, showcasing strong demand. The median rent for units is $640 per week, offering an attractive 4.5% rental yield for investors.
Recent Market Activity
Sutherland’s property market has been dynamic over the past year:
53 houses were sold, with prices ranging from $1.4 million to $1.8 million, and houses selling in an average of 26 days.
The unit market saw significant activity, with 305 units sold at prices between $650,000 and $845,000, typically selling within 15 days of listing.
2 land sales were recorded, emphasizing the limited availability of vacant plots.
The high volume of unit sales highlights Sutherland's appeal to buyers seeking affordability and convenience, while the steady house sales showcase its stability for families and investors.
Community and Lifestyle
Sutherland’s population is diverse, with 40.4% of households made up of childless couples and 39.7% comprising couples with children. The area attracts a mix of young professionals and families, with 28.5% of households earning between $78,000 and $130,000 annually, and 13.7% earning $130,000 to $182,000. Its proximity to schools, parks, and transportation hubs makes Sutherland a well-rounded suburb for all demographics.
Investment Potential
With its combination of high property turnover, strong rental demand, and steady price growth in both the housing and unit markets, Sutherland offers excellent investment potential. The suburb’s affordability, connectivity, and community appeal ensure continued growth and desirability.