Regional NSW offers affordable options to first home buyers
Staff reporterOctober 18, 2017
Most of regional NSW had positive annual growth for houses, except in Dubbo and Wingecarribee, where prices fell year on year.
In terms of affordability, Albury had a median house price of $310,000 as of September 2017, according to Domain data. A year back, the median price was $305,000.
Other affordable regional NSW centres where first home buyers can get their foot on the property ladder include Richmond Valley, Wagga Wagga, Dubbo and Tamworth regional. The range of median prices in these areas is from $275,000 to $350,000.
| Sept. 2017 | June 2017 | Sept. 2016 | Quarter growth | Annual growth | |
|---|---|---|---|---|---|
| Albury | $310,000 | $299,500 | $305,000 | 3.40% | 1.60% |
| Armidale Dumaresq | $356,000 | $356,250 | $350,000 | -0.10% | 1.70% |
| Ballina | $621,250 | $577,000 | $545,000 | 7.10% | 14.0% |
| Bathurst | $429,000 | $417,000 | $390,500 | 2.80% | 9.90% |
| Byron | $820,000 | $850,000 | $757,500 | -3.70% | 8.30% |
| Clarence Valley | $380,000 | $360,000 | $338,000 | 5.30% | 12.40% |
| Coffs Harbour | $485,000 | $485,000 | $431,000 | 0.00% | 12.50% |
| Dubbo | $350,000 | $340,000 | $365,000 | 2.90% | -4.10% |
| Eurobodalla | $455,000 | $450,000 | $420,000 | 1.10% | 8.30% |
| Great Lakes | $492,500 | $515,000 | $438,500 | -4.60% | 12.30% |
| Lismore | $370,000 | $375,000 | $340,000 | -1.40% | 8.80% |
| Newcastle | $595,000 | $610,000 | $525,000 | -2.50% | 13.30% |
| Orange | $366,500 | $370,000 | $348,000 | -1.00% | 5.30% |
| Port Macquarie- Hastings | $520,000 | $500,000 | $465,000 | 3.80% | 11.80% |
| Richmond Valley | $275,000 | $271,750 | $250,000 | 1.20% | 10.00% |
| Shellharbour | $650,000 | $635,000 | $557,000 | 2.30% | 16.70% |
| Shoalhaven | $545,000 | $525,000 | $456,250 | 3.70% | 19.50% |
| Tamworth Regional | $349,000 | $340,000 | $325,000 | 2.60% | 7.40% |
| Tweed | $573,500 | $579,750 | $519,000 | -1.10% | 10.50% |
| Wagga Wagga | $350,000 | $345,000 | $322,750 | 1.40% | 8.40% |
| Wingecarribee | $750,000 | $800,000 | $765,000 | -6.70% | -2.00% |
| Wollongong | $740,000 | $754,000 | $649,500 | -1.90% | 13.90% |
Source: Domain Group
A three-bedroom house at 2/27 Osterley Place, Bourkelands in Wagga Wagga (picture above) has sold for $359,500 through Ray White’s Cassie Sheahan. The house is leased at $375 per week.
A four-bedroom house at 427 Schubach Street, Albury recently sold for $315,000. The 664 sqm block was sold through Tom Sanderson of Wodonga Real Estate.
