Blue Mountains Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Blue Mountains* recorded a median house price of $910,000 and a median unit price of $720,000. This is an annual (Q4 2023 – Q4 2024) price growth of 7.1% for houses and 13.4% for units. Comparing Q4 2023 – Q4 2024, sales softened by -5.8% for houses (to 398 sales in Q4 2024), but increased by 44.4% for units (to 26 sales in Q4 2024). This suggests an undersupplied house market and a very highly demanded unit market, creating a buffer against higher interest rates - evident in price growth. Now is an ideal time to capitalise on their investments. With very few ready-to-sell stock planned, buyers must act fast.
CHANGE FROM LAST
YEAR
Blue Mountains£ will see approximately $59.1M of new projects commencing construction in 2025.
Residential
HALF YEAR
$17.6M
HOUSE SALE S
Projects $17.2M
HOUSE RE NTAL PRICE
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
MARKET CONDITIONS
MEDIAN PRICE Q4 2024
$650
SALES
AVERAGE DAYS ON MARKET Q4 2024
47
54
HOUSE
U N I T
RENTALS
$458
$4.8M Infrastructure $4.4M
Residential projects currently planned for construction include:
$
$720K
Industrial
The combination of commercial and mixed-use projects will stimulate local jobs and economy, as well as improve liveability for residents. This can attract more people to live in Blue Mountains.
UNIT SALE S
$910K
$15.2M
Mixed-Use
HOUSE ME DIAN PRICE
MEDIAN PRICE Q4 2024
Commercial
•
63 Lurline Street (5 Dwellings)
•
21 Stuarts Road Road (48 Land Lots)
•
54 Waratah Street (6 Units)
•
6 Blackheath Street (6 Units)
Although new stock is planned, most will deliver units and land lots. Although this assists with answering some of the demand, it is not be enough. Further, land lots require time for construction into a house. With a low number of stand-alone houses, the undersupply is set to continue. This will push up prices even further, for all stock types.
AVERAGE DAYS ON MARKET Q4 2024
21
19
HOUSE
U N I T
20 Units/ Apartments
5 Dwellings
48 Lots