Regional NSW provides a stark contrast to Sydney.
While many sectors of the Sydney market are in decline, the cities and towns of Regional NSW are delivering growth markets right across the state – whether measured by sales activity or price trends.
This is particularly evident in the price data. The vast majority of NSW Regional markets have price levels higher than 12 months ago – 85% of the locations in our survey have recorded growth in the past year.
We have surveyed 303 significant markets across the state outside of Sydney (we exclude small markets with fewer than 30 sales in a year, as small sales samples provided distorted medians and unreliable figures on growth or decline). Of these, 171 (56%) have recorded median price growth above 5% and a further 88 (29%) have grown between 1% and 5%.
The 171 locations with growth above 5% included 78 places which had double-digit price growth in the past 12 months.
Our survey reveals only 11 locations where prices have dropped by more than 5% and another 33 where prices have fallen marginally (between 1% and 5%).