Slight Fall For Sydney House Prices
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Slight Fall For Sydney House Prices

NSW capital on track to record first dip since September 2020.

By Terry Christodoulou
Wed, Feb 23, 2022 12:00pmGrey Clock < 1 min

Slight falls of over 0.2% over the past four months, undoing a small gain recorded in January amid a surge in listings and weakening demand from buyers according to CoreLogic data.

The 28-day rolling tally in the CoreLogic daily index shows Sydney prices slipped into negative territory on February 19 for the first time since October 2020.

With the month almost at an end, the NSW capital is on track to post its first monthly drop in prices since the market bottomed out in September 2020.

“It’s likely we will be reporting the first month-on-month decline in Sydney’s home value index since September 2020,” according to Tim Lawless, CoreLogic’s research director.

“It’s certainly not showing evidence that the market is crashing, it’s probably best described as a levelling out in price, similar to what we’re seeing in Melbourne.”

According to Mr Lawless, the weakening trend in prices is likely to continue as stock is pushed onto the market through to Easter.

“One of the best leading indicators – the comparative market analysis generated by real estate agents on CoreLogic’s RP Data portal when they prepare properties for sale – had risen by 23 per cent over the year and 45 per cent higher than 2020,” he said.

Melbourne too is showing signs of softening with CoreLogic’s daily index reading indicating no change over the past four weeks following a 0.2% price gain in January.

Perth is only recording 0.2% growth over the rolling four-week measures, while housing values continue to record higher gains in Brisbane and Adelaide — up 2.1% and 1.6% respectively over the 28 days ending February 22.



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Australia’s top 10 most affordable regional property markets investors should watch

Whether you prefer the country or the coast, there are plenty of east coast options for cashed up buyers

By Bronwyn Allen
Fri, Apr 19, 2024 3 min

There are 10 local council areas scattered along the East Coast of Australia that offer both affordability and solid fundamentals for sustainable future growth, according to the research team at residential property network, PRD. The areas have been selected based on five criterion. They are affordability – defined as a median house price below $600,000, rising house values, strong rental yields to encourage investment, a strong pipeline of residential, commercial and infrastructure projects to facilitate local economic development, and low unemployment.

Here are Australia’s 10 most affordable regional property markets with great future potential.

Mackay, QLD

Mackay is a tropical coastal area located in north Queensland. It’s known for its closeconnection to the Great Barrier Reef. The median house price is $462,750, up 8.9 percent in 2023. Mackay attracts a lot of interstate migrants and is home to more than 120,000 people. It has a healthy economy with an unemployment rate of 3.7 percent and $1.7 billion worth of projects due to commence this year.

Toowoomba, QLD

The Toowoomba median house price was up 10.9 percent in 2023.

Toowoomba is located west of Brisbane and is known for its Victorian buildings, street artand surrounding national parks. The median house price is $560,000, up 10.9 percent in 2023. The city has a population of more than 180,000. The unemployment rate is 4 percentand there is $6.1 billion in projects commencing in 2024.

Townsville, QLD

Townsville is a coastal city in north-eastern Queensland. The median house price is $420,000, up 5 percent in 2023. It is home to more than 200,000 people. Unemployment is very low at 2.5 percent and there is $3.2 billion of projects commencing this year.

Dubbo, NSW

Dubbo is located west of Newcastle in the Orana Region and is home to the Western Plains Zoo. The median house price is $530,000, up 11.6 percent in 2023. The population has exploded in recent years to more than 56,000 people. The unemployment rate is just 2.2percent and the economy is thriving. There is a pipeline of $4.7 billion in projects commencing this year.

Tamworth, NSW

Located in north-east NSW, Tamworth is known for its popular annual Country Music Festival. It’s also the largest retail centre for the New England and Northwest Slopes regions. The median house price is $490,000, up 14 percent in 2023. With a population of more than 65,000 people, the economy is strong with unemployment of just 2 percent and $112.4million worth of projects commencing this year.

Griffith, NSW

Located west of Sydney and northwest of Canberra, Griffith is known for its prime produce production and wine cultivation. The median house price is $531,000, up 2.1 percent in 2023. Griffith’s population is about 27,000 people. The city boasts high economic resilience with a 2 percent unemployment rate and $258.7 million in projects in the pipeline.

Ballarat, VIC

Ballarat, Victoria

Ballarat is a 1.5hour drive west of Melbourne. It’s popular with city commuters who move here for housing affordability and a relaxed lifestyle with easy access to the city via train. The median house price is $570,000, down 4.2 percent in 2023 but up 92.9 percent over the past decade. The city has the third highest population in Victoria at about 118,000. Ballarat has an unemployment rate of 3 percent and a total projects pipeline worth $2.3 billion for 2024.

Shepparton, VIC

Shepparton is a rural area about two hours north of Melbourne. It is popularly referred to as the food bowl of Australia. The median house price is $475,000, up 4.4 percent in 2023. The population is about 70,000. The unemployment rate is just 2 percent and there is $1.8 billion in projects for 2024.

Wodonga, VIC

Wodonga is located on the border of NSW on the southern side of the Murray River. It is approximately 320km from Melbourne and 345km from Canberra. The median house price is $567,250, up 4.7 percent in 2023. With a population of about 44,000, the city’s jobless rate is 3 percent and there is $388.2 million in development set to commence in 2024, primarily new infrastructure.

Burnie, TAS

Burnie is a bustling port city located in Emu Bay in Tasmania’s north-west. Overlooking beaches and parklands, the area is known for its rich agriculture and mining projects. The median house price is $435,000, up 3.6 percent. Despite a rising population, the unemployment rate is falling and is currently 5.6 percent. In 2024, Burnie’s project pipeline is valued at approximately $1.6 billion. A significant portion is commercial development, primarily renewable energy projects.

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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