Sydenham and Homebush West are the inner west’s only suburbs under $1 million dollars

ONLY two inner west suburbs remain where you can find a property for under the million dollar mark, new data reveals.

This two-bedroom house at 12 Telopea Ave, Homebush West sold last year for $973,000

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ONLY two inner west suburbs remain under the million dollar mark, new data reveals.

Sydenham and Homebush West still have six figure median house prices, according to CoreLogic RP Data.

The median house price in Sydenham is $927,500, an increase of 11.4 per cent in the 12 months to November 2015, and in Homebush West it is up 4 per cent to $980,500.

This two-bedroom semi at 6 George St, Sydenham, sold for $800,000.

William Pereira, from Raine & Horne Marrickville, said Sydenham, only 8km from the CBD and under the flight path, was a small suburb where few homes came up for sale.

“It’s very tightly held,” Mr Pereira said. “People who live there have been there for a long time.”

Core Logic RP Data shows Sydenham’s average hold period is 12 years.

This two-bedroom home at 10 Yelverton St, Sydenham sold last year for $996,000.

“It’s not the most desirable suburb but for value for money it’s unbelievable,” Mr Pereira said.

“A single-fronted home in Sydenham is worth between $900,000 and $1 million but in Marrickville it’s probably worth $1.2 million to $1.3 million. It’s a massive price difference but you’re one suburb away.”

This three-bedroom house at 74 Courallie Ave, Homebush West, sold for $910,000.

Homebush West, like Sydenham, was an affordable alternative to popular suburbs such as Strathfield but few houses came up for sale.

“There’s quite a bit of interest from the lower budget buyers looking to get into the area because they can still access most of the schools and the facilities,” Joe Campisi from Devine Real Estate Strathfield said.

The area was predominantly an apartment market with most houses confined to a few streets.

This three-bedroom home at 63 Brown St, St Peters sold for $1.3 million.

St Peters and Tempe were previously suburbs where the median house price was under a million. They now have an average house price of $1.01 million and $1.006 million respectively.

Louise Mitchell from Agency by Glenn Regan said more buyers were looking into St Peters and Tempe.

This unrenovated three-bedroom house at 12 John St, Tempe sold for $1.44 million.

“They’ve always been the bridesmaid suburbs of Newtown and Marrickville but people are discovering how close they are to everything,” she said.

Ms Mitchell said there were still houses under a million but they were generally unrenovated and ­located on busier roads.