REGIONAL NEW SOUTH WALES - COASTAL AREAS DOMINATE PRICE GROWTH
Price growth over the pandemic in regional New South Wales has exceeded Sydney and the median now exceeds Darwin , Perth and Adelaide . It ’ s getting close to Brisbane and Hobart . The most significant driver has been a lifestyle shift . Not surprisingly , the Northern New South Wales area of Richmond-Tweed has seen an increase in median price over $ 250,00 and now sits at $ 865,700 . Closer to Sydney , the Southern Highlands and Shoalhaven , and the Illawarra have also both seen an increase in excess of $ 200,000 .
Coastal New South Wales topping the list for regional price growth
Value change over the pandemic for regional New South Wales
Richmond - Tweed 865,678 254,656
Southern Highlands and Shoalhaven
Median $ change
796,160 232,846
Illawarra 928,968 224,166 Newcastle and Lake Macquarie 757,145 175,158 Capital Region 634,336 148,870 Coffs Harbour - Grafton 631,573 142,749 Mid North Coast 617,539 137,360 Hunter Valley exc Newcastle 570,024 127,555 Murray 378,680 95,829 Central West 446,650 91,749 Far West and Orana 255,293 80,338 Riverina 342,795 74,183 New England and North West 315,759 47,878
The growth of beachside areas in
Source : Corelogic , Ray White
New South Wales is now very well documented however it ’ s interesting to see many inland areas of the state also achieving solid conditions . Moree still has a relatively low median however it has increased by 40 per cent over the past 12 months .
For now , with New South Wales locked down , regional areas are likely to continue to see increases . The number of properties for sale has dropped everywhere however we are not seeing a comparable drop in buyer demand . It ’ s likely that any future restrictions to finance will be the key to a moderation of pricing .
Moree tops the list for inland regional New South Wales price growth
Median price change for inland regional New South Wales
Region
Median Price
Moree Northern $ 265,000 40 Wellington North Western $ 185,000 26 Forbes Central West $ 323,000 24 Cootamundra Murrumbidgee $ 300,000 22 Glen Innes Northern $ 240,000 22 Narrandera Murrumbidgee $ 210,000 21 East Albury Murray $ 520,000 19 North Albury Murray $ 285,000 19 North Tamworth Northern $ 440,000 19 Orange Central West $ 510,000 19
Source : Corelogic , Ray White
% change
15