New South Wales Residential Prices Most New South Wales members expect property prices across the board to remain stable or rise, mainly due to the market bottoming, improved affordability, strengthening consumer confidence and ongoing stock shortages. Regions across the state where prices are expected to rise include the Central Coast, Central West, Greater Western Sydney, The Hunter, Snowy Mountains, South Coast and Sydney. Sydney house prices will remain well supported by tight market demand/ supply fundamentals. House Prices
Apartment/Strata
Land
Increase
43%
31%
29%
Decrease
3%
17%
14%
54%
52%
57%
Flat
Rental The rental market in New South Wales is expected to continue to perform strongly with vacancy rates remaining relatively stable, although there is potential for further tightening in areas where there is an not enough supply to meet the high demand. This tight rental market may force weekly rentals up in some areas. In areas where there is an oversupply, it may place a ceiling on any price increases. 41% of New South Wales members expect vacancy rates to trend upwards, with 41% saying they will remain flat. 55% of members expect weekly rental prices to increase, while 41% say they will remain flat. Only 3% expect there to be any price drops in weekly rents.
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First National Real Estate 2013 Property Market Outlook