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NSW Market Update

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

New South Wales Market Update

*This quarter we refined our property type definitions to more closely align with common definitions of those property types.

House purchases in NSW constitute less than 60% of all residential transactions

  • In Q2 58.93% of residential property transactions were houses, 32.62% strata dwellings and 8.45% vacant land.
  • The proportion of house transactions continues to trend downwards in NSW, with the proportion of houses at 60.83% in 2024 Q1 dropping to 58.93% in the latest quarter.
  • On the other hand, strata dwellings are increasingly more popular, rising 1.19% from 31.43% in 2024 Q1 to 32.62% in 2024 Q2.
*This quarter we refined our property type definitions to more closely align with common definitions of those property types.

An increasing number of first-time home buyers are opting for strata properties as their initial residential home

  • More than half of First Home Buyers (54%) chose to purchase strata dwellings as their first home, increasing 3.83% from 2024 Q1 (50.17%).
  • Proportion of house transactions decreased from 47.14% in 2024 Q1 to 43.1% in the recent quarter.

Postcode 2160 (Merrylands) has made its debut in the Top 10 and surged to first place in transaction volume for first home buyers

  • The second most popular Postcode is 2170, in the Liverpool area.
  • Parramatta area is a favourite with First Home Buyers with three postcodes (2160, 2145, 2150) among the Top 10.
  • Postcode 2217 (Kogarah), situated in Sydney’s Inner southwest, has entered the Top 10 for the first time ever, moving up from the Top 40 in the previous quarter.

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Industry opinions on First Home Buyer activity

Redbank Plains is a great commuter suburb with both the Ipswich Motorway and the Centenary Highway within easy access. Given its convenient location, and its relative affordability, it’s not surprising to see it has topped the list of house sales
Lee Bailie
Head of Property AU | InfoTrack
It’s always interesting to see a new suburb enter the Top 10 list, and especially so when it appears for the first time, in the number one position. Merrylands and Merrylands West have seen a surge in development on the back of Western Sydney Council’s target to deliver 28,000 homes to ease the housing crisis.
Sandra Falzon
General Manager Marketing and Ecommerce | InfoTrackGO