New South Wales Market Update: A Closer Look at October’s Growth
Sydney’s property market showed a modest uptick in October, with home values rising by 0.19% and pushing the median price to a new high of $1.108 million, according to PropTrack’s latest report. This marks continued growth for Sydney, with home values now 4.51% higher than a year ago and up 5.04% from October 2023.
While Sydney’s price growth regained momentum in October, it has slowed compared to earlier in the year. This shift is partly due to an increase in housing inventory, providing more options for buyers.
Sydney’s median home values are now 39.1% above pre-pandemic levels from March 2020, reflecting the sustained value increases seen across recent years.
Meanwhile, regional NSW also reached a new peak in October, with home values edging up by 0.23% to a median of $728,000. Over the past year, regional NSW has outperformed other regional areas nationwide, leading in median prices above those of Queensland, Victoria, and Western Australia.
These updates show Sydney and regional NSW’s resilience, as demand continues to influence market trends. Whether you’re a potential buyer, seller, or simply watching the market, understanding these movements can help inform your next steps in the Sydney property landscape.
