The real estate market in New South Wales, especially in Sydney, has been robust, with property prices continuing to rise, driven by high demand and limited supply.
Sydney’s Property Market
Sydney remains the most expensive city in Australia, with a median house price of $1.93 million and unit prices at $1.09 million. The market is expected to see an 18% growth in house prices and a 22% increase in unit prices over the next three years (Property Update). The demand for housing in Sydney is fueled by both domestic buyers and international investors, contributing to a competitive market.
Regional NSW
The regional areas of NSW, including cities like Wollongong and Newcastle, have also seen substantial interest, particularly driven by the shift towards remote work and the search for more affordable living spaces. Regional markets have benefited from strong interstate migration and are expected to maintain elevated population growth, supporting continued demand for housing (The Property Tribune).
