Bexley North

7 Shaw Street Bexley North, NSW, 2207

02 9502 2066

Kingsgrove

Shop 6/215-231 Kingsgrove Road Kingsgrove, NSW, 2208

02 9502 2111

Beverly Hills

526B King Georges Road Beverly Hills, NSW, 2209

02 9579 6355

Ramsgate Beach

207 Ramsgate Road Ramsgate Beach, NSW, 2217

02 9529 4666

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Q4 2019 Key Market Indicators – New South Wales

Confidence returns in New South Wales 

New South Wales (NSW) recorded a home loan affordability index reading of 26.9 points, which represents a 2.3% improvement in the 12 months to the June quarter of 2019. Although this is below the Australian average growth of 3.5% during the same period, it is above traditionally affordable states such as Queensland (QLD), South Australia, and Tasmania (TAS); all of which experienced a decline in the home loan affordability index.

PRD Q4 2019 Key Market Indicators - NSW.PNG

NSW recorded 6,822 new first home buyer loans in the June quarter of 2019, earning it a silver award nationally in the Highest Number of First Home Buyer Loans category of the PRD Q4 2019 Key Market Indicator Awards. Although this represents a -5.9% decline in the past 12 months, this is a lower decline compared to the 12 months to the March quarter of 2019 (-11.0%). It is also a lower decline than traditionally affordable states such as QLD (-17.8%) and TAS (-6.1%). First home buyer confidence has returned in NSW, albeit not to the full extent.

Strong economic fundamentals exist in NSW, with its unemployment rate of 4.5% in September 2019 earning it a silver award nationally in the Lowest Unemployment Rate category. Although this represents an increase of 2.3% in the past 12 months, this is a lower increase compared to the Australian average of 4.0%. Furthermore, the NSW unemployment rate sits lower than the Australian unemployment rate of 5.2%. The median weekly family income increased by 2.7% in the 12 months to the June quarter of 2019, thus those employed now have higher disposable income. This will have a positive impact not only on the real estate market but also the economy.

NSW earned a silver award nationally in the Highest Nett Migration category, with 22,818 new residents. This may result in higher property demand, and as dwelling approvals declined by -26.3% in the 12 months to the June quarter of 2019, it will allow for current stock to be absorbed.

The PRD Q4 2019 Key Market Indicators report provides a quick snapshot of the current state of the market in Australia from both an economic and property perspective. The Indicators cover both national and state-level data, comprising of:

  • Number of loans to first home buyers
  • Home loan affordability index
  • Number of dwelling approvals
  • Consumer sentiment index
  • Standard variable loan
  • Consumer price inflation index
  • Unemployment rate
  • Weekly family income
  • Nett migration

View all Q4 2019 Key Market Indicators.

Download PRD Q4 2019 Key Market Indicators - NSW