2017 wrap up for the Upper Mountains real estate market?
The Upper Blue Mountains had a great year in 2017 with all suburbs recording positive price growth. The biggest stand out for last year
was Katoomba with a median price increase of 20.5% (Median House price: $608,000) and Mount Victoria with a 22.9% increase.
The areas with the greatest potential for capital growth in 2018 appear to be Medlow Bath (Median house price : $495,000) and Mount Victoria
(Median house price : $560,000). These suburbs are still very affordable and with the upgrade to the Great Western Highway we expect these
areas to continue to grow. Stock remained tight during 2017 with total house sales down 22.5% on 2016. 709 homes traded in the Upper
Mountains in 2016 compared to 549 in 2017.
Blackheath was also a stand out in 2017 as it jumped 30 places in the most sought-after-suburb list in NSW to come in at 139 out of 1482,
making it the most sought-after suburb in the Upper Blue Mountains. (Source: Most searched for suburbs on realestate.com.au).
For a more detailed Market Report for your suburb please call the office on 02 4787 8797 or email jessica.ridder@raywhite.com
