Hurstville Property Market Update 1st Half 2025
Hurstville is located 16 kilometres south of Sydney CBD in the St George area of Sydney. It is rich cultural diversity and bustling shopping precincts. The area is well connected, with excellent public transport links and offers a wide range of parks schools and local amenities. This mixed with modern apartment complexes and charming family homes makes Hurstville is an ideal family location.
Property Trends
In Q4 2024, Hurstville recorded a median house price of $2,020,000 and a median unit price of $745,000. This represents an annual (Q4 2023 - Q4 2024) growth of 22.4% for houses and 4.5% for units. Comparing Q4 2023 and Q4 2024, total sales fell by -20.5% (to 35 sales) for houses however grew by 12.0% (to 131 sales) for units. This confirms that the house market undersupplied, and units are highly demanded market; which has created a buffer against higher interest rates (hence price growth). This suggests that now is an ideal time for owners to capitalise on their investments in both markets. Prices did see a slight dip in the past 6 months (half-year), but with no new houses planned in 2025, this is most likely temporary.
Project Development
Hurstville will see approximately $296.4M of new projects commencing construction in 2025. Of this, 562 units/apartments are planned, which will help with demand. However, without any stand-alone dwellings planned, an undersupply of houses is expected, which will push up prices for all property stock types.
Rental Market & Growth
House rental yields in Hurstville was 1.9% in December 2024, slightly below Georges River LGA (2.1%) and the Sydney Metro (2.7%). Median house rental price declined by -8.6% in the past 12 months to Q4 2024, at $800 per week; whilst the number of houses rented increased, by 18.2% (to 52 houses) in Q4 2024. This creates an opportunity for renters, as more rental homes have resulted in a more affordable house rental market. That said, this also suggests rental homes are highly demanded, which is beneficial to investors.
Vacancy Rates & Property Investment
Hurstville recorded a vacancy rate of 3.0% in December 2024, above the Georges River LGA average of 1.9% and Sydney Metro’s 2.1%. Vacancy rates have fluctuated in the past 12 months, but overall showed an increase, due to a higher number of investors coming back to the market. A 3.0% vacancy rate is equivalent to the Real Estate Institution of Australia’s healthy benchmark (also 3.0%), which indicates a balanced rental market and quick occupancy of rental homes.
