‘Highly desirable’: NSW tree-change towns where house prices boomed.

Dr Nicola Powell, Domain chief of research and economics, said a slowdown in prices in council areas outside Greater Sydney during part of 2024 had started to ease.

“What we’ve got now is two back-to-back, quite robust quarters of growth, and over the March quarter, we’re starting to see price gains gain momentum,” she said.

“Overall, regional NSW is at a new record high, at $785,000 for its house price,” she said.

The regional movements are in line with trends in Sydney where house prices rose 1.7 per cent in the March quarter to hit a record $1.692 million, on Domain data. Experts said price gains in Australia’s most populous city came as buyers got a confidence boost from the potential for more interest rate cuts.

For regional NSW growth, the council area of Lismore topped the list. Its median house price rose 28.6 per cent in the year to March as the area continued its recovery from the 2022 flooding.

Lismore has been undergoing rebuilding, relocations and a government buyback scheme over recent years.

Source: https://www.domain.com.au/news/highly-desirable-nsw-tree-change-towns-where-house-prices-boomed-1372647/