It's great to see these areas doing well in the current cycle. I was interested in the comments about the Northern Beaches holding their value so thought I'd run some RP Data reports. Purely an objective observation but thought these might stimulate some discussion:
1997 - 2007 (Northern Beaches)
Bilgola: 118%
Manly: 117%
1997 - 2007 (Western Suburbs)
Blacktown: 132%
Penrith: 114%
It's a small snapshot but similar results for many of the other suburbs in those areas show there is not the large gap some people believe exists. The more desirable areas showed less fluctuation but over the longer term it looks like much of a muchness. The North Shore figures do show a positive bounce in 08 but then the last cycle also took a while longer before the outer suburbs caught up.
1997 - 2007 (Northern Beaches)
Bilgola: 118%
Manly: 117%
1997 - 2007 (Western Suburbs)
Blacktown: 132%
Penrith: 114%
It's a small snapshot but similar results for many of the other suburbs in those areas show there is not the large gap some people believe exists. The more desirable areas showed less fluctuation but over the longer term it looks like much of a muchness. The North Shore figures do show a positive bounce in 08 but then the last cycle also took a while longer before the outer suburbs caught up.