Sydney’s top suburbs for home price rises: Mt Druitt region outperforms Mosman and most NSW suburbs

Western Sydney’s Mt Druitt region has become one of the top housing markets in the country, with homes selling for $2m-plus. See the suburbs where home values increased the most this decade

Western Sydney’s Mount Druitt region has transformed from “Struggle Street” to one of the top performing housing markets in the country.

Homes in the region, which includes suburbs Shalvey, Tregear and St Marys, among others, went up in value faster than in the majority of NSW areas over the past decade, property data showed.

This included prestige markets with water views such as Mosman, Coogee and Cronulla.

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The research from property group CoreLogic provided exclusively to The Daily Telegraph revealed the only city pockets with a higher rate of growth were a handful of suburbs on the northern beaches, along with Kurnell in the south and Dundas Valley near Parramatta.

This St Marys house recently sold for $2.4m.

The suburb of Tregear was the best performer in the Mount Druitt region and prices increased 158 per cent over the past decade. Nearby Shalvey and North St Marys had just over 150 per cent growth. The Greater Sydney average for the period was 102 per cent.

Among the homes recently sold in the region was a development site on one of St Mary’s main roads for $2.73 million. It was the fourth sale above $2 million in the suburb this year.

In Mount Druitt, a house on Derwent St recently sold for $1.92 million, while in nearby Oxley Park there was a $1.3 million sale. All of these suburbs had median house prices below $400,000 in 2011.

Housing experts said the Mount Druitt area’s meteoric rise from a low socio-economic area to a property hot spot followed an influx of buyers from the inner west and northwest.

These homebuyers were coming to the area seeking better value for money and the increased competition was driving up the prices.

New infrastructure projects, including a train line connecting St Marys to the coming Western Sydney airport at Badgerys Creek, attracted investors and developers.

Ray White-St Marys agent Peter Diamantidis said the region was particularly popular with first homebuyers because some houses with backyards were still available for under $1 million.

“It’s not most buyers’ preferred location, they’re forced here by the unaffordable prices in the rest of Sydney,” he said.

This Mount Druitt house sold for $1.92m.

This St Marys site sold for $2.73m.

Mr Diamantidis, who grew up in Tregear and has been selling real estate in the area for 20 years, said views of the region were changing. “It’s known to many people as a terrible area with lots of housing commission but it’s improving all the time,” he said.

Investor Eddie Dilleen, 29, who grew up in nearby Wilmot and now owns 32 houses across the country, said many people overlooked the region but it was a “solid” performer.

“It doesn’t have a north shore vibe and some investors might turn their noses at the area, but it has got consistent growth,” he said. “It’s getting better all the time. Many of the housing commission properties are being sold up and the new residents are coming in and cleaning them up.”

Property millionaire Eddie Dilleen has 32 homes and says the Mt Druitt area has been “consistent”. Picture: Sam Ruttyn

CoreLogic head of research Tim Lawless said the majority of NSW’s other top performing suburbs over the past decade were on the northern beaches.

Much of the sharpest price growth in that region came during the Covid period as locked down residents sought an improved lifestyle by the coast, he said.