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Writer's pictureTome Avelovski

Sutherland Shire Market Update - December 2023

The Sutherland Shire property market has performed much the same as the rest of Sydney over the past 12 months, with a mix of ups and downs, varying between suburbs and property types.


Sutherland Shire's median house price currently sits at $1.93mil compared to December 2022 where we saw a median house price of $1.97mil, a small dip of only 2% over the past 12 months. Units however, saw the opposite effect, with the median unit price currently sitting at $1.24mil, up from $1.22mil in December 2022, an increase of around 1.7% over the past 12 months.


We all know that the Australian property market can be turbulent, with price drops causing considerable concern. However, amidst all this uncertainty, the Sutherland Shire has remained quite stable.


Unlike other markets across Australia, the Sutherland Shire's limited housing supply has played a significant role in supporting property prices. With tightly held suburbs, demand consistently outpaces supply, driving prices upwards. Beyond its property market, the Sutherland Shire boasts stunning natural landscapes, pristine beaches, and a vibrant community spirit.


During the 'booming' market, many home buyers felt discouraged. They thought that finding their dream home within their budget was an impossible task. But things have changed. With the market cooling down slightly, it's now the perfect time to jump back in and secure that dream home you've always wanted.


Cronulla Beach

Top 5 best performing suburbs in the last 12 months (houses - median price):

  • Taren Point +4.96%

  • Dolans Bay +2.98%

  • Kangaroo Point +2.73%

  • Como +2.23%

  • Gymea Bay +0.59%


Top 5 best performing suburbs in the last 12 months (units - median price):

  • Woolooware +4.37%

  • Jannali +3.73%

  • Miranda +3.44%

  • Sylvania +2.71%

  • Sutherland +2.61%


Top 5 worst performing suburbs in the last 12 months (houses - median price):

  • Woolooware -4.74%

  • Caringbah -4.50%

  • Sylvania -4.43%

  • Bangor -4.16%

  • Sylvania Waters -3.99%


Top 5 worst performing suburbs in the last 12 months (units - median price):

  • Sylvania Waters +0.95%

  • Engadine +1.00%

  • Cronulla +1.06%

  • Menai +1.11%

  • Caringbah +1.25%


There's also some good news for investors with rental returns still climbing at record levels. The median house rent is now sitting at $782 per week (+6.22% in the last 12 months) and units at $603 per week (+4.38% in the last 12 months) - this is the highest median rent prices historically in the Sutherland Shire. With property prices softening but rental returns increasing, this is providing investors with higher yields than they've seen in previous years.


Not such good news if you're looking to rent in the Sutherland Shire though, as competition is still fierce for rentals, given the low vacancy rates (0.84% on average across all suburbs in the Shire).

Sutherland Shire property market

The Sutherland Shire is surrounded by stunning beaches and beautiful national parks, so we're not going to see any new estates or large greenfield developments happening around here. This is going to further tighten the supply of properties in the area, whilst demand remains high, as many young people leaving home are keen to remain in the area, close to their family and friends.


For the majority of home buyers across the Sutherland Shire, they should still feel confident that they've made a sound financial decision buying in this area, as the average annual growth rate is currently sitting at 6.9% for houses and 7.3% for units based on a 10-year hold, with the average hold period of 8.47 years across the Shire.


Disclosure: The information contained in this blog is our personal opinion only and is not to be taken as financial advice, as we do not know your financial situation. Please speak with your accountant or any other licensed professional for specific advice based on your own personal circumstances. We will not be held liable for any losses.

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