Sunbury’s median property price drops

The latest property data on home prices in Sunbury from, show the median price of a four-bed home is $748,500 – a drop of 1.9% on a year ago. The value is based on 242 (four-bed) property sales in the 12 months to November.

The slightly lower value follows a strong period of growth that kicked off in December 2020. Until then, the median value of four-bed properties hovered around the $625,000 mark, but peaked at $770,000 by August 2023.

Higher interest rates, the OCR was 0.10% in April 2022, 4.35% today, and inflation have cooled the market.

Elsewhere, the median value of three-bed houses is $612,000, these are holding their value, and two-bed houses are siting at $523,750, having suffered a drop in sale prices since May 2023 ($595,000).

Taking a broad brush look at real estate values (combining data for 549 one to four bedroom houses sold in the 12 months to November) median values are pretty steady at $670,000.

At the time of writing, there are 136 houses on the market in Sunbury, there have been 549 sales during the 12 months to November 2023, and there are 5,026 registered buyers.

For units, combining data for one to three beds, values have dropped by a modest 0.8% during the 12 months to November. The median value is now $480,000, still significantly up on December 2020 when it was $432,500.

HousesNumber of buyersFor saleDays to sell
2 beds185619
3 beds20187326
4 beds355213635
Units (all beds)8383736
Data / REI November 2023