Is now the right time to buy your first home in Australia?

The Upper Blue Mountains property market continues to demonstrate resilience, with buyer demand remaining steady across a diverse range of purchaser groups, including local owner-occupiers, Sydney tree-changers, investors and retirees. While the number of transactions has eased compared to the same period last year, property values have continued to strengthen and homes are selling more quickly.

Year to date, 397 properties have sold across Mount Victoria, Blackheath, Medlow Bath, Katoomba, Leura and Wentworth Falls, compared with 470 sales over the same period last year. Despite the lower sales volume, the median sale price has increased from $850,000 to $920,000—an increase of approximately 8.2%—while the average time on market has reduced from 55 days to 49 days. This combination of rising prices and shorter selling times suggests that well-presented, correctly priced properties continue to attract strong competition from buyers.

At Ray White Upper Blue Mountains, we are also experiencing this momentum firsthand. We have exchanged contracts on 11 properties so far this month, three more than at the same time last year, reflecting our strong market presence and the continued confidence of buyers and sellers in the region.

Overall, the data points to a healthy and balanced market. Although there are fewer transactions than last year, the strength in pricing, reduced days on market and the diversity of active buyers indicate that the Upper Blue Mountains remains a robust and highly desirable property market. Broader market commentary has similarly noted the resilience of the Blue Mountains, with demand continuing to support price growth despite changing economic conditions.