Regional NSW Locations Continue To Rise, In Contrast To Sydney
While many sectors of the Sydney market were in decline until the post-election upturn in big city fortunes, the cities and towns of Regional NSW have been delivering growth markets right across the state – both with sales activity and price trends.
This is strongly evident in the price data. Most NSW Regional markets have price levels higher than a year ago – 85% of the locations in our latest quarterly survey have recorded growth in the past year.
We surveyed 303 markets across the state outside of Sydney and 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%).
The various scenarios playing out across NSW provide further confirmation of the reality that there isn’t one property market - there are multiple markets largely driven by local economic conditions.
Our latest Top 5 NSW Regional Hotspots report takes you to the pick of the crop - locations that have strong and diverse local economies supporting affordable property prices with good potential for both capital growth and rental returns.