Australia’s housing market continued its gradual recovery in April, with national home values rising by 0.3% – pushing the median dwelling value to a new record high. This equates to an average increase of $2,720 per home over the month, according to Cotality’s national Home Value Index.
In Sydney, including key areas such as Waitara, Thornleigh, Pennant Hills, Normanhurst, Cherrybrook, Mt Colah, Wahroonga, and Ku-ring-gai, property values saw a modest 0.2% gain. Despite the positive movement, April marked a slight slowdown from March’s stronger 0.4% increase, as overall market sentiment dipped and auction activity declined.
For buyers and sellers in the area, the market remains active but tempered, with early 2025 shaping up as a period of cautious optimism.
Interest Rates and Buyer Confidence: A Mixed Outlook
February’s rate cut initially motivated the market, but its momentum appears to be waning. Cotality’s Head of Research, Tim Lawless, notes that “global economic tensions and the recent federal election likely caused hesitation among both buyers and sellers in April.”
This cooling effect was evident across the board. The number of auctions held in capital cities dropped significantly, with just 644 auctions in the week ending April 20 – the lowest for an Easter period since 2019. New listings also fell to a multi-year low, indicating sellers may be holding back while they assess the market.
In suburbs like Cherrybrook, Mt Colah, and Wahroonga, lower stock levels could mean less competition for motivated sellers, making this a strategic time to list.
What’s Ahead for the Sydney Market?
With another rate cut expected around May 20 and political uncertainty easing post-election, property values are forecast to rise modestly through the second half of 2025. However, Sydney prices are still down 1.1% from their September 2024 peak, with other cities such as Melbourne, Hobart, and Darwin trailing even further behind.
Detached Homes Leading Price Growth
In terms of property type, standalone houses are significantly outperforming units. Across the capital cities, house values rose 1.1% over the last three months – more than double the 0.5% increase seen in the unit sector. In Sydney, houses climbed 1.4% during the same period, while unit values declined slightly by 0.3%.
This trend is especially relevant for homeowners in areas like Pennant Hills, Dural, and Ku-ring-gai, where family-sized homes on larger blocks remain in high demand.
Regional Markets Still Going Strong
Regional property values outpaced capital cities once again, rising 0.6% in April compared to the capitals’ 0.2%. While this growth was spread across most states, regional South Australia and Western Australia were standouts. This echoes the pandemic-era trend of buyers prioritizing space and lifestyle—something still evident in outer suburban pockets near Hornsby Shire.
Key Insights for Hornsby Shire Homebuyers & Sellers
- Sydney home values rose modestly in April, with Hornsby Shire suburbs seeing steady demand.
- Low listing numbers mean less competition – an advantage for well-prepared sellers in suburbs like Normanhurst and Cherrybrook.
- Detached homes continue to lead growth, especially in family-oriented areas like Mt Colah and Wahroonga.
- Buyer activity is expected to rise post-election and following expected rate cuts in May.
- Regional growth remains strong, but northern Sydney suburbs offer a balance of lifestyle and city access.
Looking to Buy or Sell in Hornsby Shire?
Whether you’re buying your first home in Pennant Hills, upgrading in Thornleigh, or selling an investment property in Waitara, staying informed about current market conditions is key. The Hornsby Shire real estate market remains active, with strategic opportunities available for both buyers and sellers.
For professional insights into homes for sale in Cherrybrook, property prices in Ku-ring-gai, or market updates for surrounding suburbs, reach out to us today.