NSW Market Update

Explore our latest property data to discover what is happening within the New South Wales market
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New South Wales Market Update

Houses decline, Strata on the rise

  • Houses are continuing to lose traction, losing further share from the first half of the year (60.14% in Q1 and 59.73% in Q2) to 54.29% last quarter.
  • Despite the decrease, houses remain the dominant property type in NSW. The gradual decline may indicate buyers are increasingly exploring alternatives, possibly driven by price growth, lifestyle preferences, or the availability of land for custom builds.
  • While strata properties also experienced a decline in the first half of the year (31.52% in Q1 and 30.82% in Q2) they were able to increase their market share last quarter to 37.65%.
  • Vacant land grew earlier in the year (9.45% in Q2) but has since moderated to 8.06%, roughly returning to its Q1 level (8.33% in Q1).

Strata living the optimal choice for First Home Buyers

  • Strata dwellings remain the preferred property type for First Home Buyers in NSW, reflecting their alignment with the financial and lifestyle needs of this demographic.
  • The appeal of strata can be attributed to the relative affordability of this property type, compared to houses and vacant land, and the capped value of financial government assistance for First Home Buyers within the state.
  • The heightened demand has translated into measurable market shifts with the median purchase prices for strata increasing by 1.34%, while sales volumes rose 14.95% compared to the previous quarter.

Sydney growth corridors and coastal hotspots see strong demand

  • Austral, a suburb in Sydney’s south-west, has emerged as a sought-after destination for property buyers in Q3. As the #1 suburb, its popularity is partly attributed to its affordable prices for houses and vacant land, recording median prices of $700k and $650k respectively.
  • South-west Sydney continues to dominate the list with five suburbs appearing: Schofields (#2), Blacktown (#4), Box Hill (#6), Rouse Hill (#7) and Penrith (#9).
  • Port Macquarie, in #3, is the only suburb on the list that sits outside of Sydney. For many buyers this location represents a beachside option that is more affordable when compared to other premium coastal suburbs. Last quarter, Port Macquarie’s median property prices were recorded at $900k for houses, $590k for strata dwellings, and $400k for vacant land.

Consistent upward pressure on NSW property prices

  • The NSW property market is demonstrating resilience, with short-term volatility, that is not affecting the overall quarterly momentum.
  • July to August saw a slight dip in the month-on-month sales (-0.2%) of NSW properties, with a recovery in the backend of the quarter with September recording an increase of 3.37%.
  • The month-on-month median purchase prices mirrored this trend, recording a 3.79% growth (July compared to June) which declined -1.99% into August, and recovered in September with 3.26%.
  • On the surface, Austral’s median property prices appear extremely affordable compared to other suburbs in the Top10. However, this location has seen growth quarter-on-quarter of 2.18% for houses and 1.56% for vacant land, a trajectory which might continue if Austral remains popular with property buyers.
  • Baulkham Hills recorded the highest median property price for houses ($1.8M) and nearly also topped the list for strata properties ($990k) but was marginally beaten by Box Hill, which recorded $1.07M last quarter.

First Home Buyers continue to dominate north-west Sydney

  • Schofields has secured a dominant position at the top of the First Home Buyer list, overtaking Liverpool’s year-long lead, and recording more than double the activity of Blacktown which ranked second.
  • North-west Sydney has dominated the list with Schofields #1, Blacktown #2, Penrith #4, Westmead #5 and Wentworthville #8 all featuring. These locations offer affordability, accessibility, lifestyle, and growth potential, making them an ideal choice for First Home Buyers who want to balance cost, convenience, and long-term property value.
  • For the first time, Port Macquarie features in the Top 10 at #6 for First Home Buyers in NSW, reflecting broader market trends.

Distinct price points for FHBs and experienced buyers

  • While Port Macquarie features on both the overall NSW Top 10 and the First Home Buyer Top 10, there is a clear distinction in median property prices between these groups.
  • Overall buyers (experienced and first-time combined) recorded median prices of $900k for houses and $590k for strata.
  • First Home Buyers alone targeted more affordable options, with median prices at $800k for houses and $570k for strata, reflecting their preference for value while still accessing the suburb’s lifestyle and amenities.
  • First Home Buyers are prioritising ready-to-build or move-in properties, showing strong interest in houses and strata dwellings, while vacant land recorded minimal activity, appearing only in Penrith and Port Macquarie.

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Industry insights on buyer activity

Despite upward pressure on NSW property prices, the market shows resilience amidst short-term volatility. We’re seeing a clear quarter-on-quarter shift in buying patterns from houses to strata, especially for First Home Buyers who continue to dominate north-west Sydney.
Lee Bailie
Head of Property AU | InfoTrack
From Tarneit in VIC to Springfield Lakes in QLD, the top suburbs for house sales consistently draw buyers with their proven lifestyle appeal. Driven by new master-planned developments, infrastructure, and community amenities, these areas offer a strong value proposition for both families and long-term investors.
Sandra Falzon
General Manager, Marketing | InfoTrack