One of the great strengths of Regional NSW is that it provides affordable lifestyle alternatives to the super expensive Sydney property market.

Regional NSW in many ways provides something for everyone: some of Australia’s largest and most important regional cities, attractive sea change towns, appealing hill change enclaves, industrial centres, strong multi-purpose inland cities, lifestyle regions – and price ranges to suit most budgets.

Another of the Regional NSW advantages is that its property markets are underpinned by one of the nation’s strongest economies – ranked No.2 in the January 2024 edition of State of the States published by CommSec.

Part of that growth state economy is a major program of big infrastructure developments, including the $31 billion Inland Rail Link which has been energising markets along the construction route over the past 2-3 years.

Against that backdrop, Regional NSW overall showed steady improvement throughout last year and ended 2023 with a solid market, although not as strong as Sydney’s.

The number of rising markets to be found in Regional NSW has increased recently, which means Regional NSW has started 2024 with good momentum in many locations.

NSW is a big state and there are many different scenarios in play, with markets that are rising strongly, some that are seeing moderate growth and others that are still struggling.

Some of the most high-profile NSW markets, like Byron Bay and the Central Coast, have not yet recovered from the correction phase in their property cycles, following the big uplift in 2020 and 2021.

But other precincts are doing much better. 

The strongest market in Regional NSW is formed by the City of Wollongong and neighbouring LGAs Shoalhaven and Shellharbour.

Those three municipalities comprise a growth cluster on the coast south of Sydney, where most of the individual suburbs and towns have positive trends with sales activity and prices. 

The Newcastle and Hunter region is steadily improving also, but is not yet as bullish as that Wollongong precinct. 

There are nevertheless plenty of growth markets in Newcastle and the neighbouring Lake Macquarie LGA.

Other precincts with positive trends with their sales activity include the Tweed, Ballina, Coffs Harbour, Goulburn, Orange and Albury regions.