Liverpool Market Update 1 st H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2024, Liverpool* recorded a median house price of $1,008,000, and a median unit price of $520,000. This represents an annual (Q1 2023 – Q1 2024) price growth of 5.8% for houses and a minor softening of -1.8% for units. During this time total sales increased, by 13.5% (to 588) sales for houses and by 40.3% (to 355 sales) for units. Confidence has returned to Liverpool*, with properties in high demand. Houses in particular suggest real returns on investment, thus an opportunity for owners looking to sell and/or downsize. The unit market is slightly more affordable in Q1 2024, thus an ideal time for first time home buyers to enter the market.
CHANGE FROM LAST
YEAR
Liverpool is set to see approximately $481.0M worth of new projects commencing in the 1st half of 2024. Commercial
$49.8M
$58.0M
HALF YEAR
Residential
$164.2M
HOUS E ME D IAN PRICE
Mixed-Use Projects
HOUS E RE NTAL PRICE
$205.4M
UNIT S AL E S
These projects will stimulate economic growth and create new job opportunities in Liverpool. This should have a spill-over impact on the real estate market, in the form of higher demand for housing.
UNIT ME D IAN PRICE UNIT RE NTAL PRICE
A key mixed-use project in the 1st half of 2024 is the Elizabeth Street Illoura Place Apartments & Commercial Development ($138.6M), which will add approximately 312 apartments to the Liverpool* area.
$ MARKET CONDITIONS
$1.0M
MEDIAN PRICE Q1 2024
$720
SALES
$520K
AVERAGE DAYS ON MARKET Q1 2024
46
65
HOUSE
U N I T
RENTALS
$550
$3.7M Infrastructure
HOUSE SALE S
MEDIAN PRICE Q1 2024
Industrial
Other projects adding to the housing supply include: •
50 Croatia Ave (30 townhouses)
•
Okinawa Road & Camden Valley Way (19 townhouses, 5 dwellings)
•
505 Fifteenth Avenue (119 lots)
AVERAGE DAYS ON MARKET Q1 2024
24
21
HOUSE
U N I T
411 Units/ Apartments
140 Townhouses
66 Dwellings
1058 Lots