Executive Summary
The St George property market has shown resilience through Q4 2023 and into Q1 2024. Despite interest rate pressures, buyer activity has remained strong, particularly from first home buyers taking advantage of government incentives and investors seeking rental yields.
Key suburbs including Brighton-Le-Sands, Rockdale, and Sans Souci have seen steady price growth, while unit markets are experiencing increased demand from downsizers and entry-level buyers.
Regional Price Overview
Median House Prices (December 2023):
Pro Tips
- Prices reflect median – individual properties vary significantly
- Waterfront properties commanding 15-25% premiums
- Renovated properties achieving up to 10% above median
Unit Market Analysis
The unit market has shown particularly strong performance, driven by affordability factors and improved rental yields.
Median Unit Prices:
Days on Market
Well-priced properties are selling quickly, while overpriced listings are spending longer on market.
Average Days on Market:
Houses: 28 days (down from 35 days same period last year)
Units: 32 days (down from 40 days)
Factors affecting time on market:
Accurate pricing is the #1 factor
Quality presentation reduces days by 20-30%
Spring listings typically sell faster than winter
Buyer Demographics
The St George market attracts a diverse buyer pool:
First Home Buyers (35%):
Focused on units under $800,000
Taking advantage of stamp duty concessions
Strong preference for low-strata, smaller blocks
Upgraders (30%):
Young families seeking houses with yards
Dual income households with budgets $1.5-2M
School catchment driving location decisions
Downsizers (20%):
Selling family homes, buying premium units
Focus on lifestyle, low maintenance, proximity to services
Often cash buyers or minimal finance
Investors (15%):
Seeking rental yields and growth
Mix of local and interstate buyers
Preference for established units with good rent history
Suburb Spotlight: Brighton-Le-Sands
Brighton-Le-Sands continues to be the standout performer in the St George region.
Why buyers love it:
Beachfront lifestyle within 25 minutes of CBD
Restaurant and cafe culture on Bay Street
Strong sense of community
Good public transport (buses to Rockdale station)
Mix of Art Deco and modern properties
Market trends:
Waterfront properties achieving significant premiums
Renovation activity increasing property values
Strong rental demand from young professionals
Interest Rate Impact
The RBA's rate decisions continue to influence buyer behaviour:
Current environment:
Cash rate at 4.35% (as of February 2024)
Market expecting rates to hold or cut in late 2024
Borrowing capacity reduced approximately 25% from peak
Buyer response:
More cautious purchasing decisions
Increased focus on value for money
Longer decision-making timeframes
Strong demand for properties within revised budgets
Official Resources
Market Outlook
Q2-Q4 2024 Outlook:
The St George market is well-positioned for steady growth through 2024:
Positive factors:
Population growth in Sydney's south
Limited new housing supply
Strong rental market supporting investors
Interest rate stabilisation improving confidence
Watch factors:
Any further rate increases would dampen activity
Economic uncertainty affecting buyer confidence
Potential increase in listings from mortgage stress
Forecast:
Moderate price growth of 3-5% expected for 2024
Premium properties to outperform market average
Unit market likely to see stronger percentage gains
Frequently Asked Questions
Is now a good time to buy in St George?
Is now a good time to sell?
Where are the best growth suburbs?
Disclaimer
This market report provides general commentary only and does not constitute financial or investment advice. Property values and market conditions can change rapidly. Past performance is not indicative of future results. Data sourced from various industry providers and may be subject to revision.
