Real estate Sydney: Cheapest suburbs within 10km of Sydney’s CBDPosted by On


The cheapest suburb that falls within 10 kilometres of the Harbour City’s centre is Sydenham, where the median house price is $1.335 million. Picture: Britta Campion / The Australian

In 2021, record low interest rates fuelled extreme buyer demand and an exceptional pace of home price growth.

Rising interest rates throughout 2022 have quickly rebalanced the housing market from last year’s extreme growth and remain front and centre of the fall in home prices.

Throughout the latter half of this year as interest rates have quickly risen, demand to buy property has slowed from the strong levels seen last year and into early 2022. As inflation rose and interest rates moved higher, consumer confidence has fallen, and expectations of continued price falls have weighed.

Main auction photoshoot

Housing demand has slowed significantly this year. Picture: Julian Andrews.

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Sydney prices have fallen for the ninth month in a row after peaking in February 2022, with prices falling a further 0.14 per cent in November to be 6.44 per cent below their peak.

Now the cash rate is sitting at 3.10 per cent with a substantial 300 basis points of tightening pushed through to date, maximum borrowing capacities have dropped by close to 30 per cent

Interest rates have quickly risen, reducing borrowing capacities and increasing mortgage servicing costs.

This has seen…

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