NSW Market Update

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

New South Wales Market Update

Strata dwellings show consistent growth throughout 2024

House purchases have continued to trend downwards in NSW, with this property type slipping from 60.83% in Q1, to 58.93% in Q2 and now sitting at 58.56% in Q3.
In comparison, strata dwellings have been steadily increasing throughout 2024 moving from 31.43% in Q1 to 32.62% in Q2, to now maintain 33.01% in Q3.
Vacant land has remained relatively the same quarter-on-quarter, with a small decline from 8.45% last quarter to 8.43% now.

First Home Buyers have a clear preference to one property type

Following a similar trend to the wider NSW market, First Home Buyers in the state are showing an increased inclination towards strata dwellings.
From Q2 to Q3, this property type had a small uplift from 54% last quarter to 54.39% this quarter.
House transactions have continued to decline, decreasing from 47.14% in Q1 to 43.1% in Q2, now only maintaining 42.91% share in Q3.

Greater Western Sydney continues to lead the Top 10

Greater Western Sydney has once again dominated the Top10 for First Home Buyers with eight postcodes appearing on the list.
New entrants to the Top10 from last quarter to this period include 2148, 2747, 2259 and 2250.
Central Coast Region featured on the list, with new entrants 2259 which covers 42 suburbs including Tuggerah and Wyong, and 2250 which includes 34 suburbs including Erina and Gosford.

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Industry opinions on buyer activity

While the increase in New South Wales unit sales may seem incremental, it shows home buyers are increasingly opting for more affordable housing solutions given current economic conditions.

Lee Bailie

Head of Property AU | InfoTrack

The suburb of Pimpama has come in at number one on the Top Ten list for Queensland house sales. Pimpama is equal distance to the heart of the Gold Coast and the Brisbane CBD and that makes it a very attractive commuter suburb.

Sandra Falzon

General Manager Marketing and Ecommerce | InfoTrackGO