NSW still leads the pack with the most promising outlook for the upcoming year

Cities that witnessed the most growth are:

• Inner Brisbane, QLD
• Shoalhaven, NSW
• Gladstone, QLD
• City of Sydney, NSW
• Albury/Wodonga, NSW/VIC border
• Canterbury-Bankstown, NSW
• City of Perth, WA
• Mount Barker, SA
• Sunshine Coast, QLD
• City of Casey, VIC

Overseas Immigrants still flocking to New South Wales

While interstate immigration observed a relative drop in numbers New South Wales saw a net gain of 174K new overseas immigrants last financial year, according to abs.gov.au, which gave impetus to the existing property market by pushing up demand for new dwellings and apartments.

Low Vacancy rates driven by strong demand from a consistent influx of overseas Immigrants

Rental rates observed a regular rise post december 2020, with Perth observing explosive growth other states followed suit with steady growth rates. Despite being the most expensive city dwelling rates have only increased in sydney futher emphasizing the desirability of living here. This is also further reinforced by the resilient dwellings prices amidst rising interest rates, median house price ranged upto $1.175 Mn. 

Affordable living in Suburbs of NSW

While Sydney remains the most expensive city of Australia, many suburbs of the city of Canterbury - Bankstown have grown almost by 10% - This growth was driven by relatively affordable apartment prices that piqued the interest of First Home Buyers and Investors alike. These areas are within the range of 15 - 30 Kms from Sydney CBD making it one of the most desirable locations for commuters looking for affordable options. This is further fueled by a recent trend where people are looking to move in bigger spaces relatively to expensive options in Inner sydney.

Growth in Localized Infra & Industries

One of the regions on the outskirts of greater sydney popularly known as shoalhaven is becoming increasingly popular with First Home Buyers and Investors alike as it has grown rapidly in the sectors of Health, Construction & Defence force. Also with affordable options available it adds the affordability factor to the mix as well & this has been instrumental in attracting owner occupiers as well as seasoned property investors.

Albury - Wudiinga is coming up swiftly with new units Dwelling prices touching the upper range of $ 200k, even after this Albury - Wudinga has observed property price frowth by 60% whils the rents have increased bu 27.3%

This subsequent demand pull in suburbs while retaining the premium aspect of living in Inner sydney, it offers all the solutions and hence continues to stay at this position

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