There’s a strong argument that Regional NSW is the strongest market jurisdiction anywhere in Australia.
Hotspotting’s latest quarterly survey of sales activity reveals that Regional NSW has more locations with rising momentum than any of the capital cities and any other state regional jurisdiction.
At the same time, nine out of ten NSW regional locations have delivered price growth in the past 12 months, with many recording double-digit growth in their median house prices.
Our latest quarterly survey has found that 116 locations in Regional NSW have rising markets, easily the highest number in the six years that Hotspotting has been conducting its quarterly surveys.
The results show evidence of the Exodus to Affordable Lifestyle trend which is sweeping the nation, with growth markets right across the state but most noticeably in places close to Sydney.
The No.1 market, by a considerable margin, is the Central Coast. As the closest sea change market to Sydney, this market is getting significant uplift from the Exodus trend. There are 17 suburbs with rising sales activity and we expect strong price growth in the near future.
South of Sydney, the Wollongong, Shoalhaven and Shellharbour LGAs jointly have 10 suburbs with upwardly-mobile markets.
Hill change markets within striking distance of Sydney are also rising, including the Blue Mountains and the Southern Highlands.
Meanwhile, markets across Regional NSW continue to perform at nation-leading levels on price growth.
In the past 12 months, 90% of regional locations have recorded growth in their median house prices. Most have lifted at least 5% and many have had double-digit growth.
Some of the suburbs of Newcastle, Wollongong, the Central Coast and the Southern Highlands, as well as Byron Bay, have had annual growth above 20%.
The past year has been strong – but I expect the next 12 months to be even stronger, as we build rapidly towards a nationwide property boom, led by regional markets like those in NSW.
So get a copy of Top 5 Regional NSW Hotspots today and have a read.