Sydney suburbs see biggest house price gains and losses, report shows

The latest Domain House Price Report highlights the most pronounced shifts in Sydney’s residential market over the past 12 months. Cabrametta, North Richmond and Ourimbah recorded price increases of 27% or more, while prestige suburbs such as Bronte, Birchgrove, Woollahra and Mosman saw declines of 8.5% or greater. Marsfield and Parramatta also fell sharply, down 21.2% and 10% respectively. For units, seaside areas like Fairlight and Bondi Beach posted strong gains, as did inner‑city locations Chippendale and Woolloomooloo, whereas Forest Lodge, Turramurra and Darling Point dropped at least 14%.

Domain chief residential economist Dr Nicola Powell described the trend as “a textbook downturn for Sydney, where the more expensive suburbs move first and shift rapidly.” The report links the slowdown to the Australian government’s May changes to negative‑gearing tax rules and a recent rise in the cash rate, which together prompted many investors to exit the market. Homebuyer Lara Rinaldi, who recently purchased a five‑bedroom duplex in Georges Hall for $2 million, said she sensed the market softening and saved about $200,000 compared with last year’s prices.