New South Wales 2024 End of Year Wrap

Most Wanted Property Type

Top Keyword Searches

Searches for “granny flat” have risen again this year, becoming the second most popular search term, up from third. This reflects the growing interest in side incomes, additional workspace, or multigenerational living in Australia’s most expensive city.

“Study” has dropped to fifth place this year from second last year suggesting a shift in working habits as more people spend fewer days working from home.

Affordable and higher-density housing options are gaining traction, with “duplex” and “penthouse” climbing the rankings in the harbour city. This signals a growing demand for cost-effective options or lifestyle-driven downsizing.

Searches for “garage” have surged to sixth place this year, up from eleventh in 2023, indicating a rising need for practical storage and parking solutions as families prioritise functionality.

“Art deco” moved up to 14th from 17th this year, highlighting a renewed appreciation for vintage charm and distinctive architectural styles in home design.

The search for lifestyle or more affordable pastures remains strong, with 27% of Regional NSW enquiries coming from Sydneysiders, while only 6% are looking to move to Sydney.

While most home hunters across NSW come from within the state (75%), some are setting their sights on Victoria (10%) and Queensland (8%) as affordability and lifestyle factors influence their decisions.

In Demand Suburbs

1.    Stanmore

2.   Paddington

3.   Haberfield

4.   Mcmahons Point

5.   Lilyfield

Suburbs with the Quickest Sales

Suburb	Days of Market
Lalor Park	20 days
Ruse	20 days
South Penrith	22 days
Bligh Park	24 days
St Clair	24 days

Suburbs with the Highest Clearance Rates

Suburb	Clearance Rates
Airds	97.1
Willoughby East	93.8%
Yarrawarrah	91.7%
Bungarribee	87.5%
Canada Bay	87.5%

Price Per Square Meter

Most Expensive Suburbs	$/m2
Paddington	$28,713/m2
Surry Hills	$25,333/m2
Woollahra	$22,464/m2
Bellevue Hill	$19,101/m2
Redfern	$18,069/m2

Least Expensive Suburbs	$/m2
Watanobbi	$945/m2
Wentworth Falls	$999/m2
Springwood	$1,008/m2
Blackheath	$1,023/m2
Hazelbrook	$1,055/m2

Areas with the highest proportion of distressed listings

1.     Blacktown, 13.9%

2.    Parramatta, 10.4%

3.    Merrylands - Guildford, 8.8%

4.    Fairfield, 8.7%

5.    Hawkesbury, 7.2%

Source: Domain End of Year Wrap - 2024

This article is intended for informational purposes only and does not constitute legal, tax, or financial advice. Always seek professional counsel tailored to your specific situation. Remember, all loan applications are subject to the lender’s approval and conditions, including fees and charges.