Hurstville Market Update 1st Half 2025
In Q4 2024, Hurstville* recorded a median house price of $2,020,000 and a median unit price of $745,000.This represents anannual (Q4 2023 - Q4 2024)growth of 22.4%for houses and 4.5%for units. Comparing Q4 2023 and Q4 2024,total sales fell by -20.5% (to 35 sales) for houses however grew by 12.0% (to 131 sales) for units. This confirms that the house market undersupplied, and units are highly demanded market, which created a buffer against higher interest rates (hence price growth). This suggests that now is an ideal time for owners to capitalise ontheir investments in both markets. Prices did see a slight dip in the past 6 months (half-year), but with nonew houses planned in 2025,this is most likely temporary.
FROM LAST
Hurstville£ will see approximately $296.4Mofnewprojectscommencing constructionin2025
RENTAL PRICE
PRICE Q4 2024
$2.0M $745K
PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
35
52 $740 HOUSE UNIT
AVERAGE DAYS ON MARKET Q4 2024
Housing stock related projects that are planned in 2025include:
• 61 Forest Road – Mesa Hurstville (254 Apartments)
• 124Forest Road Mixed-Use Project (219 Apartments)
• 23-31 Treacy Street Mixed-Use Project (42 Apartments)
• 1A Pearl Street & 29-33Gloucester Road (24Units)
• 30-32 The Avenue (23Units)
Although there are several residential and mixed-use projects bringing new housing stock planned, most of the new stock planned are units
This is notsurprising, due to the lack of available land in Hurstville. That said, this will not be enough to answer current demand for houses and make it a scarce resource. The undersupply of houses will push prices up further, for all stock types (not just houses).
30 25 $800 562Units/ Apartments
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 house vendor discounts between Q4 2023and Q4 2024have increased drastically toa greater premium of 9.0% (from 1.7%) House buyers must offer much more above than the first list price. Units still offer a discount, of -2.8%, however this is a tighter discount than 12months prior (-3.3%); which indicates a starting shift towards a seller’s market. Thus, unit buyers must act fast
The suburb of Hurstville has slightly outperformed the wider Georges River Local Government Area (LGA) in median house price for the past 5 years. This continued to be the case in 2024,with the gap widening. Unit median prices in the suburb of Hurstville have sat on par with Georges River LGA, which continued throughout 2024.
Most of the homes sold in Hurstville* in 2024were in the premium price bracket of $2,300,000and above (35.5%) However, the market is relatively well distributed, with 21.0% of houses sold in the more affordable price bracket of $1,700,000-$1,899,999.Units had most sales (28.1%) in the mid price bracket, of $700,000to$799,999. Hurstville is a premium market, butthere are still properties available for every budget; which benefits first home buyers.
MARKET COMPARISON
Hurstville (2220) House Georges River LGA House Hurstville (2220) Unit Georges River LGA Unit
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 Hurstville.
PRICE BREAKDOWN 2024
Less than $599,999 $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 Hurstville¥ was 1.9% as of December 2024, slightly below Georges River LGA(2.1%) and the Sydney Metro (2.7%). Median house rental price did decline by -8.6% in the past 12months to Q4 2024, at $800per week; whilst the number of houses rented increased, by 18.2%(to 52 houses) in Q4 2024 This creates anopportunity for renters, as more rental homes have resulted in a more affordable house rental market. Thatsaid, this also suggests rental homes are highly demanded, which is beneficial toinvestors.
3-bedroom houses have provided investors with +11.6%rental growth annually, achieving a median rent of $820per week.
Hurstville¥ recorded a vacancy rate of 3.0%in December 2024,above the Georges River LGA average of 1.9% and Sydney Metro’s 2.1%. Vacancy rates have fluctuated in the past 12months, but overall showed an increase, due to a higher number of investors entering the market A 3.0%vacancy rate is equivalent to the Real Estate Institution of Australia’s healthy benchmark (also 3.0%), which indicates a balanced rental market and quick occupancy of rental homes.
RENTAL VACANCY RATES 2025
Hurstville (2220)¥
PROJECT DEVELOPMENT MAP 2025 ₳
HURSTVILLE
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REFERENCES
* Hurstville sales market data and key indicators encapsulates aggregate property market conditions within the suburb of Hurstville.
** 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.
¥ Hurstville rental market data encapsulates aggregate property conditions within the postcode of 2220.
§ 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 Hurstville.
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.
