Real estate Sydney: Best value suburbs for families revealed

These are the top Sydney suburbs where those upsizing the family home, and downsizing, can get the most for their money.

Sydney suburbs where upgraders can get more for their money have been revealed.

Five suburbs in Sydney’s west and southwest have been identified where you can buy a substantially bigger home with appealing amenities nearby for between $1-$1.5 million.

The suburbs, identified in a study by PRD Real Estate, include Guildford, Merrylands, Auburn, Bankstown and Bexley.

PRD Real Estate chief economist Dr Diaswati (Asti) Mardiasmo said these areas offered the most value, for first home buyers and people upgrading from units, in terms of house size and nearby amenities.

“Certainly in the west and southwest you get more for your money,” Dr Mardiasmo said.

Meanwhile, she said people looking to use their home equity to upsize to a nicer area would find value in Epping, Maroubra and Wahroonga with starting prices from $2.5m.

“In the current market, the definition of someone upsizing is completely different to five years ago,” she said.

A 4 bedroom home on Winchmore St, Merrylands sold for $1.4m in August.

This 5 bedroom home on Hillview Ave, Bankstown, sold for $1.6m in June.

PRD chief economist Dr Diaswati "Asti" Mardiasmo said Sydney’s west and southwest gave buyers more for their money.

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“In a place like Sydney where there’s more sparse inland areas, you really have to look at what upsizing means to you, whether it’s more land or a bigger home but closer to services.

“From a price perspective Sydney is more expensive but there’s so much more development and investment.”

For those keen on simply finding the largest houses for the cheapest prices in Sydney, PropTrack data has revealed the top locations for four and five plus bedroom homes.

Sydney’s west and southwest featured heavily in the lists with Canley Heights and Fairfield Heights the cheapest at just over $1 million for five bedroom homes.

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A 5 bedroom home in Harden St, Canley Heights sold for $1.18m in April.

A 6 bedroom home on Camden St in Fairfield Heights sold for just $1.38m in June.

When it came to four bedroom homes, the cheapest were in the Central Coast suburbs of Gorokan, Blue Haven and Lake Munmorah priced between $750,000-$800,000.

Ray White NSW chief auctioneer Alex Pattaro identified Sydney’s northwest area for remarkable value, including suburbs such as Schofields and Quakers Hill, compared to suburbs closer to Sydney’s CBD.

“You can get a new four bedroom home out here for under $1.5m,” he said.

“It’s ideal for families.”

Ray White NSW chief auctioneer Alex Pattaro led the auction at this Schofields family home in Ruth St which sold for $1.3m.

Anton and Anastasia Chemerys are selling their five bedroom home in Stanhope Gardens after almost 15 years.

The couple, who have three children, aged 6, 14 and 17, have decided to make the move towards the Parramatta area to be closer to schools, sporting clubs and work.

“We are looking for something similar in terms of size, we are flexible though,” Mr Chemerys said.

“There are plenty of areas where we can find a similar size place and get value for money.”

He said the couple moved from the inner west to Stanhope Gardens back in 2008 when they were seeking more space for a family.

The Chemerys family; (from left) Anton, Anastasia, Daniel (17), Tim (14) and Stephanie (6). Picture: Julian Andrews

“The location is amazing and there’s been massive growth in the area over the last 10 years,” Mr Chemerys said.

“At the time we were amazed at the size of home we were able to get for our budget compared to the inner-west where houses are smaller and more compact. We were able to get a big front and backyard as well as a pool. It’s been amazing.”

Mr Chemerys said many areas in northwest and western Sydney offered more value for money.

“If you look closer to the city, you are paying double the price for a block half of the size,” he said. “There’s a lot of value out here.”

The Chemerys home on Kentwell Cres, Stanhope Gardens, is up for sale.

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He said their home had received a lot of interest, being one of the larger homes in the area and one of a few blocks of land at 600 sqm.

“People are interested in the larger blocks,” he said.

When it came to downsizing, Dr Mardiasmo identified areas such as Burwood, Ryde and Carlingford due to new mixed use developments offering the appeal of lifestyle as well as affordability with median unit prices between $615,000 to $815,000.

She said these areas also gave downsizers the opportunity to have money leftover for travelling or buying investment properties.

“In Sydney there’s more mixed use developments to chose from compared to other capital cities in Australia,” she said.

“With these new developments coming for both upsizes and downsizers, the suburbs grow around them giving people more confidence to commit.”