Shoalhaven, Eurobodalla experience increase in median house prices

The NSW South Coast is experiencing an increase in house prices, with some areas growing slowly and others having a rapid increase. See how your area is performing.

The NSW South Coast is experiencing a growth in house prices, with some regional areas seeing prices climb while others record rapid and sudden growth.

However despite the growth, data reveals homes are continuing to sell.

Both the Eurobodalla and Shoalhaven on the South Coast have seen house prices increase in recent months.

Recent data from CoreLogic – a property data firm in Australia and New Zealand – reveals the Shoalhaven and Southern Highlands have seen an increase in median house prices of 1.6 per cent in the past year, with almost the entirety of the rise occurring in as little as three months.

This brings the new median house price in the Shoalhaven and Southern Highlands to $931,391.

Homes in the Eurobodalla continue to sell, despite rising prices.

Meanwhile, Batemans Bay and Narooma in the Eurobodalla have seen a slight increase in housing prices in January this year, keeping up with the national trend of value rises.

Currently, the Eurobodalla has a median house price of $819,000.

The January result comes after Batemans Bay ranked among the country’s worst performers for dwelling value last year in CoreLogic’s November regional market update.

CoreLogic research director Tim Lawless said regional housing markets were beginning to show a stronger trend in value growth.

“Across three states, regional WA, SA, and Queensland continue to record a slower pace of growth relative to capital city counterparts,” he said.

“These are also the three regional markets where dwelling values are at record highs.”

CoreLogic research director Tim Lawless.

Despite the rising prices, Mr Lawless said house sales were increasing along the South Coast and in other regional areas.

CoreLogic estimated 115,241 dwellings were sold in regional NSW in the three months to the end of January, 11.9 per cent higher than the same period in 2023.

“Despite ongoing cost of living pressures, high interest rates, low consumer sentiment and affordability constraints, homes are still selling,” Mr Lawless said.

“Housing demand has been buoyed by high migration, but also tight rental markets that have probably incentivised renters to transition toward home ownership if they can afford to do so.”