The most tightly held suburbs in Sydney: good luck buying into these areas | Kate Burke
Homeowners in Yowie Bay typically hold onto their house for more than 22 years before they sell.
In Yowie Bay, home owners are staying put longer than elsewhere, figures from CoreLogic show. Those who sold in the waterfront suburb over the past year had held on to their house for a median of 22.8 years.Dominic Lorrimer Suburbs with more home buyers and fewer investors typically had longer median hold periods, said Eliza Owen, CoreLogic’s head of research for Australia, particularly areas that were popular with families or an older demographic.
The figures are based on the median hold time for properties sold over the 12 months to July. Medians were only calculated for suburbs with a minimum of 20 sales, ruling out some suburbs.Citywide, the median hold time is 9.4 years for houses and 7.9 years for apartments. That is the longest span for apartments in the past decade, while the house median peaked in 2019.
“They all have pull factors that keep people there – either they have very high natural amenity or very high community amenity,” McCrindle said. The family loved the area, and water sports, bush walks and fishing were all common pastimes. While the suburb has changed, Monk still enjoys the walks on offer and swims at Gymea Bay Baths.
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