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Adamstown Market Update 1st Half 2025

In Q4 2024, Adamstown* recorded a median house price of $1,378,500 and a median unit price of $765,000.This represents annual (Q4 2023Q4 2024)growth of 12.1% for houses and 10.9%for units. Comparing Q4 2023and Q4 2024,total sales surged by 55.7% (to 137sales) for houses and grew by 7.5%(to 72sales) for units. This confirms a highly demanded market, which created a buffer against higher interest rates (hence price growth). This suggests that now is anideal time for owners to capitalise on their investments. Thatsaid, price growth in the past 6 months (to Q4 2024)have notbeen as high, at 9.8% forhouses and 4.8%for units; which creates an opportunity for first home buyers to enter the market

YEAR HALF YEAR CHANGE FROM LAST

HOUSE SALES

HOUSE MEDIAN PRICE

HOUSE RENTAL PRICE

Adamstown£ will see approximately $179.6Mofnewprojectscommencing constructionin2025

MEDIAN PRICE Q4 2024

$1.3M $765K

MEDIAN PRICE Q4 2024

AVERAGE DAYS ON MARKET Q4 2024

There are quite a few residential projects to commence in Adamstown in 2025. Many of these developments are along Brunker Road. Residential projects planned include:

• 64 & 76 Brunker Road (96 Units)

• 190Brunker Road & Teralba Road (25 Units)

• 15 Austin Street (27 Dwellings)

• 14-20 Brunker Road Units & Commercial (27Units)

• 42-46 Brunker Road (31Units)

• 1A Karoola Road (14 Dwellings)

• 63Yule Road (3 Dwellings)

Most of the residential projects in the pipeline plans to deliver units to Adamstown. However this will not be enough to answer market demand. There is still very little new standalone houses planned, suggesting a potential undersupply. This will push prices up even further, for all stock types (not just houses).

AVERAGE VENDOR DISCOUNT*

Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.

Average vendor discounts between Q4 2023and Q4 2024 have swung drastically from a discount of -0.4% to a premium of 0.7% forhouses, which indicate a shift from a buyer’s market to a sellers. Thatsaid, it has remained ata discount for units, of -2.4%. Unit buyers can still benefit from a discount, however considering the potential for an undersupply in the house market, this may notlast long. Thus,unit buyers must act fast tosecure a discount.

The suburb of Adamstown has outperformed the wider Newcastle Local Government Area (LGA) in median house price for the past 5 years. This continued tobe the case in 2024. Units in the suburb of Adamstown have sat onpar with Newcastle LGA, which continued throughout 2024.

Most of the homes sold in Adamstown* across 2024were split evenly between the most affordable price bracket of $999,999and below (31.0%) and the premium price point, of $1.75Mand above (29.1%). Units had most sales (27.6%) in the premium price bracket, however showed strong sales numbers in the middle price bracket of $700,000$799,999(22.8%) as well. This indicates there is a home for every budget in Adamstown*.

MARKET COMPARISON

The market comparison graph provides a comparative trend for median price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Adamstown.

PRICE BREAKDOWN 2024

$600,000 to $699,999 $700,000 to $799,999 $800,000 to $899,999 $900,000 and above

RENTAL GROWTH 2025€

House rental yields in Adamstown¥ was 3.5%as of December 2024,which is slightly above the Newcastle LGA (3.3%) average and higher thanSydney Metro (2.7%). Further, median house rental price increased by 9.0% in the past 12months to Q4 2024, at $730per week. In the same timeframe the number of houses rented decreased, by -17.2% (to 125 houses) in Q4 2024; suggesting anundersupply. This indicates a highly demanded and competitive house rental market in Adamstown¥, which is beneficial to investors.

2-bedroom houses have provided investors with +9.1%rental growth annually, achieving a median rent of $600per week.

Adamstown¥ recorded a vacancyrate of 0.5% in December 2024,well below the Newcastle LGA average of 1.3% and Sydney Metro’s 2.1%. Vacancy rates have fluctuated in the past 12months, but overall showed a declining pattern, which indicates aneven tighter rental market. Further, a 0.5%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental properties in Adamstown¥

RENTAL VACANCY RATES 2025

Adamstown (2289)

LGA

Metro REIA 'Healthy' Benchmark

Adamstown (2289)¥

PROJECT DEVELOPMENT MAP 2025 ₳

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REFERENCES

* Adamstown sales market data and key indicators encapsulates aggregate property market conditions within the suburbs of Adamstown, Broadmeadow, Hamilton, Merewether and Lambton

** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.

# 2024 encapsulates sales transactions for the 2024 full year (01/01/2024 – 31/12/2024).

€ Annual rental growth is a comparison between Q4 2023 (01/10/2023 – 31/12/2023)and Q4 2024 (01/10/2024 – 31/12/2024) house median rent figures.

¥ Adamstown rental market data encapsulates aggregate property conditions within the postcode of 4220.

§ Rental yields shown are as reported as of December 2024.

₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.

£ Projects refers to the top developments within the suburb of Adamstown, Broadmeadow, Hamilton, Merewether and Lambton.

µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.

ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.

Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.

Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.