Sydney property values have had a record year across the board, with exclusive waterfront addresses increasing by as much as $4.2 million.
The top performing suburbs across five demographic categories have been ranked in the Shore Financial's State of Sydney report.
The report, which looked at more than 600 suburbs, graded each by property asking price, days on the market, inventory levels, sales volumes and median prices in the 12 months to February.
The city's suburbs have performed exceptionally well, despite Sydney prices dropping for the first time in 17 months in February after a 22.4 per cent annual increase.
Top performing Sydney suburbs
| Rankings | Suburb | Median Price Feb 2022 | Growth |
| 1: Top "working-class" suburb | Austral | $860,000 | $360,000 |
| 2: Top "suburban Sydney" suburb | Box Hill | $822,000 | $260,000 |
| 3: Top "rising" suburb | Wamberal | $1,645,000 | $554,000 |
| 4: Top "professional" suburb | Taren Point | $2,300,000 | $969,000 |
| 5: Top "elite" suburb | Bellevue Hill | $8,410,000 | $4,213,637 |
^Shore Financial State of Sydney Report 2022.
Shore Financial chief executive Theo Chambers said borrowers were regularly increasing their loan amounts to keep up with surging prices.
“The past 12 months have been extraordinary, with prices going through the roof in most Sydney suburbs,” Chambers said.
“For most of the suburbs in the report, inventory levels are under two months and days on market are under 30 days. In other words, supply is low and demand is high.
“The numbers might look very different this time next year because the evidence suggests the Sydney market is softening. But for the past 12 months, and also right now, Sydney has been a seller’s market.”
The number of house and apartment approvals in the city dropped 14 per cent and 25.9 per cent respectively in January, however, experts believe activity will pick up again.
Also in January, investor loan commitments grew 11.2 per cent and owner-occupier loans grew 3.3 per cent for NSW, indicating buyers were still actively looking for properties.
