Hurstville Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Hurstville* recorded a median house price of $2,020,000 and a median unit price of $745,000. This represents an annual (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 on their investments in both markets. Prices did see a slight dip in the past 6 months (half-year), but with no new houses planned in 2025, this is most likely temporary.
CHANGE FROM LAST
YEAR
Hurstville£ will see approximately $296.4M of new projects commencing construction in 2025. Residential $18.0M
Commercial $32.0M
HALF YEAR
HOUSE SALE S HOUSE ME DIAN PRICE
Mixed-Use Projects $242.7M
HOUSE RE NTAL PRICE
UNIT SALE S
Housing stock related projects that are planned in 2025 include:
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q4 2024
$2.0M
$745K
MEDIAN PRICE Q4 2024
$800
SALES
AVERAGE DAYS ON MARKET Q4 2024
35
52
HOUSE
U N I T
RENTALS
$740
AVERAGE DAYS ON MARKET Q4 2024
30
25
HOUSE
U N I T
•
61 Forest Road – Mesa Hurstville (254 Apartments)
•
124 Forest Road Mixed-Use Project (219 Apartments)
•
23-31 Treacy Street Mixed-Use Project (42 Apartments)
•
1A Pearl Street & 29-33 Gloucester Road (24 Units)
•
30-32 The Avenue (23 Units)
Although there are several residential and mixed-use projects bringing new housing stock planned, most of the new stock planned are units. This is not surprising, 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).
562 Units/ Apartments