*Please note that the data referenced in this article is current as of February 22, 2024.

Areas In Sydney To Get Into The Property Market Sooner 

Sydney has long held the position of the most expensive city in Australia when it comes to buying property. Based on Domain’s recent First-Home Buyer Report, it would take a couple aged 25-34 roughly 6 years and 8 months to save a 20% deposit for an entry-level house. As for entry-level units, it would take that same couple 4 years and 6 months to save a 20% deposit.

For many first-time buyers in Sydney, it can be a daunting prospect trying to purchase a property. And while Sydney can be more challenging compared to other cities and areas in Australia, home ownership isn’t out of the question, you just need to know where to look. 

Here are some of the best suburbs to buy in Sydney based on data from Domain’s First Home Buyer Report.

Entry-level houses

Here are the top areas with the shortest time to save for a 20% deposit on an entry-priced house for a couple aged 25-34.

1. Wyong (5 years 7 months)

Located on the Central Coast an hour and a half north of the city, Wyong is one of the most affordable suburbs to purchase an entry-level house. Areas on the Central Coast, including Wyong, have been attractive to homebuyers looking for a more relaxed lifestyle while still having easy access to amenities and coastal attractions. The median price for a 3-bedroom house in Wyong is roughly $638,000.

2. St Marys (5 years 8 months)

Positioned 45 km west of the Sydney CBD, St Marys has diverse housing options, ranging from apartments to detached houses. St Marys is a popular choice for more affordable housing options while still having access to the amenities and employment opportunities that the greater Sydney region offers. You can secure a 4-bedroom house in St Marys for around $710,000.

3. Wollondilly (5 years 8 months)

Wollondilly Shire is located on the south-western fringe of the Sydney metropolitan area. It includes a number of suburbs and townships, including Picton, Thirlmere and Bargo. Known for its semi-rural setting, scenic landscapes, and historic attractions, Wollondilly offers larger properties and acreages. 4-bedroom homes in Picton are currently sitting around the $1,041,000 mark.

4. Blue Mountains (5 years 11 months)

The Blue Mountains, located west of Sydney, is known for its picturesque scenery and landscapes. The region is accessible by road and rail, making it a popular choice for residents who work in Sydney but prefer a more serene and nature-centric lifestyle. 4-bedroom homes in Katoomba, close to the Blue Mountains are selling for around $960,000.

5. Mount Druitt (5 years 11 months)

Mount Druitt is situated in the Greater Western Sydney region, making it relatively close to the Sydney central business district (CBD). The suburb is well-connected by road and rail, with train services linking it to Sydney's city centre. The median price for a 4-bedroom home in Mount Druitt is roughly $813,000.

6. Richmond-Windsor (5 years 11 months)

Located in the Hawkesbury region northwest of Sydney, the towns of Richmond and Windsor combine urban living with suburban tranquillity. The median house price for a 3-bedroom house in Windsor is around $804,000, making it a more affordable option for first-home buyers in the Sydney region. 

Entry-level units

If you’re looking for a suburb closer to the city to call home, you might be better off looking at units. They’re typically more affordable and in more central locations. Here are some of the top areas where you could get into the Sydney property market sooner:

1. Fairfield (3 years 2 months)

As one of Sydney’s most affordable suburbs, the median price for 3-bedroom units in Fairfield is $500,000. Located 45 minutes south of the CBD, Fairfield is well-connected by road and public transportation, including train services and the bus transitway. It’s home to a large proportion of families and offers access to several quality schools as well as other amenities.   

2. Liverpool (3 years 3 months)

Located in Sydney's southwest region, is a major commercial and cultural hub. The median price for a 3-bedroom unit in Liverpool is $603,000. Liverpool has an extensive public transport system, a number of educational facilities and a good healthcare system.

3. Mount Druitt (3 years 3 months)

Mount Druitt isn’t just a good option for affordable housing, it also boasts some of the most affordable units in the Sydney region with the median unit price for a 3-bedroom unit coming in at above $510,000. From the local TAFE campus and the Westfield Mt Druitt Shopping Centre to the Blacktown Mt Druitt Hospital, Mount Druitt offers plenty of amenities and infrastructure. 

4. Penrith (3 years 3 months)

Escape the bustle of the city without compromising on amenities when you head west to Penrith. Penrith is home to a number of schools, parks and playgrounds, making it a great choice for young families looking for an affordable suburb to call home. The median price point for a 3-bedroom unit in the area is roughly $700,000.

5. Blacktown (3 years 9 months)

Located in the Greater Western Sydney region, Blacktown is fast becoming one of Sydney’s most popular outer suburbs. The median price point for a 3-bedroom unit in Blacktown is $636,000.

6. Canterbury (3 years 9 months)

Canterbury sits on the fringe of Sydney’s inner west and western suburbs. New developments are quickly popping up over the suburb, including the new Woolworths and Aldi near the train station. Based on the median price, you can pick up a 2-bedroom unit in Canterbury for $672,000.

7. Merrylands-Guildford (3 years 9 months)

Merrylands and Guildford are two neighbouring suburbs located close to the Parramatta CBD. These areas are close to major hospitals, a large Stockland shopping centre and plenty of lush natural bushland. Based on the median unit prices in these areas, you could secure yourself a 3-bedroom unit for $630,000. 

At Unloan, we’re here to help you with your home-buying journey. From our collection of blogs and short clips, to our up-and-coming buy a home offering, get in touch with one of our friendly Unloan lending specialists to see how we can help you. 

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This article does not have regard for the financial situation or needs of any reader and must not be relied upon as financial product advice. As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on this, consider the appropriateness to your circumstances.   

Unloan is a division of Commonwealth Bank of Australia.

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