The top 50 Sydney suburbs predicted to lose out with negative gearing changes
New data has revealed the top 50 suburbs that are expected to see the greatest declines in median values if Labor’s proposed negative gearing changes are introduced to the Sydney market.
Data presented by the Real Estate Institute of NSW has found which suburbs are expected to see the greatest declines if Labor implements its proposed negative gearing policy.
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Top of the list was the Liverpool housing market with a current median value of $643,526, which is expected to see a decline of 25.3 per cent with 52.2 per cent of the market consisting of renters.
What the research also found was that the vast majority of the markets at 41 out of 50 are in Labor-held electorates, according to REINSW chief executive Tim McKibbin. In the top 10 suburbs alone, eight suburbs are held by members of the Labor Party.
“The data identifies those suburbs that have a high proportion of rental properties and which have already suffered double-digit falls in property values,” Mr McKibbin said.
“On this basis, new policies that cause investors to exit will reduce the number of buyers in the market further. This, in turn, will escalate the losses in value even further.”
Out of all 50 suburbs, 44 would see value losses over 10 per cent, while 11 would see value losses over 15 per cent.
“These property markets have already suffered significantly under the property downturn. Any policy that reduces buyer activity further is going to undermine prices further,” Mr McKibbin said.
The top 50 suburbs most susceptible to Labor’s proposed negative gearing changes, according to the REINSW, are:
|
Ranking |
Suburb |
Property |
Seat |
Member
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|
Party |
AVM Median Value |
12 month |
Rented |
|
1 |
Liverpool |
House |
Fowler |
Chris Hay |
ALP |
$643,526 |
-25.3% |
52.2% |
|
2 |
Wiley Park |
House |
Watson |
Tony Burke |
ALP |
$700,998 |
-21.0% |
50.3% |
|
3 |
Eastlakes |
House |
Kingsford Smith |
Matt Thistlethwaite |
ALP |
$1,228,245 |
-20.4% |
52.0% |
|
4 |
Bondi Beach |
House |
Wentworth |
Dr Kerryn Phelps |
Ind |
$2,165,662 |
-18.9% |
62.2% |
|
5 |
Bondi |
House |
Wentworth |
Dr Kerryn Phelps |
Ind |
$2,229,423 |
-18.7% |
55.9% |
|
6 |
North Parramatta |
House |
Parramatta |
Julie Owens |
ALP |
$1,026,044 |
-17.6% |
51.4% |
|
7 |
Glebe |
House |
Sydney |
Tanya Plibersek |
ALP |
$1,516,145 |
-16.5% |
63.2% |
|
8 |
Parramatta |
House |
Parramatta |
Julie Owens |
ALP |
$1,035,372 |
-16.2% |
62.9% |
|
9 |
Fairfield |
House |
Fowler |
Chris Hay |
ALP |
$636,143 |
-15.5% |
52.1% |
|
10 |
Redfern |
House |
Sydney |
Tanya Plibersek |
ALP |
$1,270,394 |
-15.5% |
60.1% |
|
11 |
Neutral Bay |
House |
North Sydney |
Trent Zimmerman |
Liberal |
$1,985,682 |
-15.2% |
52.9% |
|
12 |
Milsons Point |
Unit |
North Sydney |
Trent Zimmerman |
Liberal |
$1,440,535 |
-14.6% |
53.6% |
|
13 |
Camperdown |
House |
Grayndler |
Anthony Albanese |
ALP |
$1,242,000 |
-14.5% |
57.0% |
|
14 |
Whalan |
House |
Chifley |
Ed Husic |
ALP |
$461,688 |
-14.3% |
51.4% |
|
15 |
Newtown |
House |
Grayndler |
Anthony Albanese |
ALP |
$1,184,076 |
-13.9% |
57.7% |
|
16 |
Erskineville |
House |
Sydney |
Tanya Plibersek |
ALP |
$1,136,473 |
-13.9% |
51.8% |
|
17 |
Forest Lodge |
House |
Sydney |
Tanya Plibersek |
ALP |
$1,431,945 |
-13.8% |
56.3% |
|
18 |
Emerton |
House |
Chifley |
Ed Husic |
ALP |
$458,405 |
-13.1% |
51.9% |
|
19 |
Airds |
House |
Macarthur |
Dr Mike Freelander |
ALP |
$479,905 |
-13.0% |
92.7% |
|
20 |
Westmead |
House |
Parramatta |
Julie Owens |
ALP |
$1,039,095 |
-12.9% |
62.8% |
|
21 |
Tregear |
House |
Chifley |
Ed Husic |
ALP |
$444,312 |
-12.9% |
60.8% |
|
22 |
Hillsdale |
Unit |
Kingsford Smith |
Matt Thistlethwaite |
ALP |
$619,845 |
-12.7% |
50.3% |
|
23 |
Penrith |
House |
Lindsay |
Emma Husar |
ALP |
$621,404 |
-12.6% |
51.1% |
|
24 |
Bondi Junction |
House |
Wentworth |
Dr Kerryn Phelps |
ALP |
$1,764,396 |
-12.3% |
51.5% |
|
25 |
Shalvey |
House |
Chifley |
Ed Husic |
ALP |
$449,088 |
-12.2% |
52.7% |
|
26 |
Newtown |
Unit |
Grayndler |
Anthony Albanese |
ALP |
$673,238 |
-12.2% |
57.7% |
|
27 |
Lakemba |
House |
Watson |
Tony Burke |
ALP |
$827,734 |
-11.8% |
52.2% |
|
28 |
Bondi Junction |
Unit |
Wentworth |
Dr Kerryn Phelps |
Ind |
$977,548 |
-11.4% |
51.5% |
|
29 |
Eastlakes |
Unit |
Kingsford Smith |
Matt Thistlethwaite |
ALP |
$575,896 |
-11.4% |
52.0% |
|
30 |
Bidwill |
House |
Chifley |
Ed Husic |
ALP |
$467,914 |
-11.1% |
76.9% |
|
31 |
Lakemba |
Unit |
Watson |
Tony Burke |
ALP |
$392,325 |
-11.0% |
52.2% |
|
32 |
Lethbridge Park |
House |
Chifley |
Ed Husic |
ALP |
$462,699 |
-11.0% |
53.1% |
|
33 |
Neutral Bay |
Unit |
North Sydney |
Trent Zimmerman |
Liberal |
$905,157 |
-10.9% |
52.9% |
|
34 |
Redfern |
Unit |
Sydney |
Tanya Plibersek |
ALP |
$898,854 |
-10.7% |
60.1% |
|
35 |
Villawood |
House |
Blaxland |
Jason Clare |
ALP |
$739,672 |
-10.7% |
60.2% |
|
36 |
Coogee |
Unit |
Kingsford Smith |
Matt Thistlethwaite |
ALP |
$993,335 |
-10.6% |
53.3% |
|
37 |
North Parramatta |
Unit |
Parramatta |
Julie Owens |
ALP |
$550,088 |
-10.5% |
51.4% |
|
38 |
Liverpool |
Unit |
Fowler |
Chris Hay |
ALP |
$403,879 |
-10.5% |
52.2% |
|
39 |
Manly |
House |
Warringah |
Tony Abbott |
Liberal |
$2,684,891 |
-10.4% |
53.2% |
|
40 |
Darlinghurst |
Unit |
Sydney |
Tanya Plibersek |
ALP |
$834,527 |
-10.4% |
61.2% |
|
41 |
Blackett |
House |
Chifley |
Ed Husic |
ALP |
$468,247 |
-10.4% |
50.1% |
|
42 |
Sadleir |
House |
Werriwa |
Anne Stanley |
ALP |
$532,359 |
-10.3% |
50.4% |
|
43 |
Kensington |
Unit |
Kingsford Smith |
Matt Thistlethwaite |
ALP |
$818,050 |
-10.2% |
53.4% |
|
44 |
Wiley Park |
Unit |
Watson |
Tony Burke |
ALP |
$414,175 |
-10.1% |
50.3% |
|
45 |
Miller |
House |
Werriwa |
Anne Stanley |
ALP |
$544,924 |
-9.9% |
58.3% |
|
46 |
Kurraba Point |
Unit |
Warringah |
Tony Abbott |
Liberal |
$1,097,462 |
-9.8% |
50.5% |
|
47 |
Kirribilli |
Unit |
North Sydney |
Trent Zimmerman |
Liberal |
$1,289,281 |
-9.8% |
66.5% |
|
48 |
Glebe |
Unit |
Sydney |
Tanya Plibersek |
ALP |
$905,506 |
-9.4% |
63.2% |
|
49 |
Wolli Creek |
Unit |
Barton |
Linda Burney |
ALP |
$669,064 |
-9.3% |
55.3% |
|
50 |
Warwick Farm |
Unit |
Fowler |
Chris Hay |
ALP |
$395,566 |
-9.3% |
67.7%
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