The Hills Shire Market Update 1st Half 2025
In Q4 2024, The Hills Shire* recorded a median house price of $1,530,000 and a median unit price of $820,000.This represents annual (Q4 2023Q4 2024)tightening of -5.0% for houses and -3.2%for units. Comparing Q4 2023and Q4 2024,total sales increased by 3.2% (to 1177 sales) for houses and decreased by -17.4% (to 968sales) for units. Although there was an increase in demand over the last 12months from Q4 2023toQ4 2024there was a decrease in the past 6 months from Q2 2024to Q4 2024. The current softening in house prices reflect higher interest rates and current economic conditions. Buyers should act quickly totake advantage ofthe house prices before there is a recovery.
HOUSE SALES
FROM LAST HOUSE MEDIAN PRICE HOUSE RENTAL PRICE
SALES
The Hills Shire£ will see approximately $4.7Bofnewprojectscommencing constructionin2025
HALF
PRICE
RENTAL PRICE
MEDIAN PRICE Q4 2024
$1.5M $820K
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
67
AVERAGE DAYS ON MARKET Q4 2024
There are multiple residential and mixed-use projects planned for 2024 that will help boost supply, including:
• Northern Residential Precinct Rouse Hill Structure Plan (400 Apartments)
• Cudgegong Town Centre (456 Apartments)
• 49 Terry Road Apartments – The Collection (296 Units & 15 Townhouses)
• Hughes Avenue Apartments (261 Apartments)
With the signficant supply of readyto-go properties entering both the housing and units markets in 2025
The Hill Shires residential market is expected to see positive growth as buyers re-enter the market
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 expanded slightly toa greater discount in Q4 2024of -1.7% for houses and -2.6% for units. The house and unit market in the Hills Shire* is still a buyer's market where vendors are willing to sell below the initial listing price. Now is an ideal time for buyers to enter the market.
The suburb ofHills Shire has returned to sit on par with the wider Parramatta Local Government Area (LGA) in median house price after outperforming it from 2021to 2023.Meanwhile units in Hill Shire have continued to outperform the Parramatta Local Government Area.
Most of the homes sold in the Hills Shire* across 2024were sold withing the premium price bracket of $1,850,000and above (35.2%). Buyers looking for affordable houses have access to27.3%of stock, priced at less than $1,249,999in good news for first home buyers. Most units sold were in the most affordable price bracket of $699,999and below (33.1%). This is also good news for first home buyers. Unit owners canalso benefit from a growing premium market with 23.0%of units sold at $1,000,000and above. There is a home forevery budget in the Hills Shire*. 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 The Hills Shire LGA.
MARKET COMPARISON
PRICE BREAKDOWN 2024
Less than $699,999
$700,000 to $799,999 $800,000 to $899,999 $900,000 to $999,999 $1,000,000 and above
RENTAL GROWTH 2025€
House rental yields in The Hills Shire¥ was 2.3%as of December 2024,slightly below the Parramatta Council (2.6%) and the Sydney Metro (2.7%). Further, median house rental price increased by 2.6% in the past 12 months to Q4 2024, at$800 per week. In the same timeframe the number of houses rented also increased, by 10.3% (to 1471houses) in Q4 2024;suggesting an expanding demand in the market.
2-bedroom houses have provided investors with +10.0% rental growth annually, achieving a median rent of $550per week.
The Hills Shire¥ recorded a vacancy rate of 2.8% in December 2024, above the Parramatta Council average of 2.1% and Sydney Metro’s 2.1%. Vacancy rates have stayed relatively steady in the past 12 months, butoverall showed a slight increasing pattern, due to investors returning to the market as cash rates stabilise. That said a 2.8%vacancy rate is still below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating an ideal level of occupancy of rental properties in The Hills Shire¥ .
RENTAL VACANCY RATES 2025
PROJECT DEVELOPMENT MAP 2025 ₳
THE HILLS SHIRE
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REFERENCES
* The Hills Shire sales market data and key indicators encapsulates aggregate property market conditions within the postcodes of 2125, 2151, 2153, 2154, 2155, 2156, 2157, 2158, 2756, 2765, 2775.
** 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.
¥ The Hills Shire rental market data encapsulates aggregate property conditions within the postcodes of 2125, 2151, 2153, 2154, 2155, 2156, 2157, 2158, 2756, 2765, 2775.
§ 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 postcodes of 2125, 2151, 2153, 2154, 2155, 2156, 2157, 2158, 2756, 2765, 2775.
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.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
