Unprecedented high for Sydney real estate reflects the state of the nation

Record highs for Sydney property values are great news for the real estate industry but challenging for potential buyers.

Reports last week indicate that the 5.7 per cent rise in Sydney home values exceeds previous peak levels.

The latest results derive from a CoreLogic capital city growth index, which found all cities’ property values were on the rise. 

Darwin (2.3 per cent), Hobart and Perth (both 1.6 per cent) recorded the highest national increases. House prices lifted by 0.9 per cent early this year to propel these record levels. 

Queensland is also experiencing strong sales results from low advertised supply in the Gold Coast (which late last year experienced a 1.9 per cent growth rate; second only to Launceston (3.1 per cent) and the Illawarra at 3 per cent), Sunshine Coast, Mackay, Isaac, Whitsundays and Brisbane. 

A post-COVID population growth and employment figures helped boost these results.   

Sellers’ market spurs home values

CoreLogic’s Executive Research Director, Tim Lawless, was not surprised by the record increase and capital-city growth levels. 

“Since housing values found a floor in October last year, Sydney home values have risen 5.7 per cent to reach a new record high today. The fresh record high is great news for Sydney homeowners, but highlights the challenges for non-homeowners looking to participate in the housing market as values rise faster than incomes,” says Mr Lawless.

Sydney dwelling values were down 15.3 per cent between July 2017 and May 2019. The COVID period saw values fall only marginally, levelling in October to scale to the latest 5.7 per cent rise.     

“The recovery trend in Sydney, following the decline from July 2017 to May 2019, was interrupted by COVID-19, with housing values falling by three per cent through the worst of the pandemic.”

Record highs from reduced supplies

Mr Lawless iterated that the unprecedented home values rise coincided with low advertising supply, adding that listing numbers are down almost 28 per cent on the same period last year.  

The traditionally strong sales periods of May to June, along with record-low interest rates creating favourable conditions for buyers in mid-tier markets, are expected to increase supply as well as demand.   

Rise in regional exodus 

Regional Australia continues to outperform capital-city growth. For example, values across regional NSW lifted by 1.5 per cent early this year to improve by 4.7 per cent on the previous corresponding quarter.

In Victoria, regional values increased by 1.6 per cent to be 4.8 per cent higher than the previous corresponding quarter. This compares with the 2.1 per cent improvement for Melbourne city growth and reflects the unquenchable appeal of regional lifestyles.


Managing Director – New Vision Financial Services & New Vision Real Estate After years in the banking, finance & commercial sector Chris noticed that the industry needed a company with a personal touch that offered their customers a complete solution. In 2015 New Vision Financial Services was created to allow our consultants to use their experience (including approving and structuring large complex commercial transactions through to basic home loans) and to concentrate on offering a personalised service to their clients. With the growth and success of New Vision Financial Services a decision was made in 2019 to launch New Vision Real Estate to provide an end to end solution for client weather they be first home buyers or seasoned investors. Chris has built a team at New Vision Financial Services and New Vision Real Estate that have access to over 70 different lenders, insurers, lawyers, accountants and financial planners giving you more flexibility when making a decision. We offer a full service Real Estate agency offering Sales, Leasing, New Developments, House & Land and Commercial. Call me anytime on 0433 181 544 or email chris@newvisionfinancial.com.au The team at New Vision Financial Services have access to over 70 different lenders, giving you more flexibility when making a decision. Our consultants have had extensive experience within the banking, financial and corporate sector. At New Vision Financial Services we specialise in finance lending for home, investment, business, commercial, asset, debtor and many other requirements. As New Vision Financial Services has progressed, we have developed strong relationships with professional service providers such as; Financial Planners, Accountants, Settlement Agents, Leasing & Equipment Providers, Debt Management Specialists and any more to allow our clients access to a complete suite of services.