On 1 July each year, the NSW Valuer General provides land values for 2.6 million properties in NSW.
In March 2020, a worldwide pandemic was declared, called COVID-19. Australia was locked down to limit the spread of the virus, impacting individuals’ lifestyles, the working environment and disrupting businesses. Some businesses were forced to close their doors and stand down or lay off staff, and some closures may be permanent.
In response, the NSW Valuer General reviewed the impact of COVID-19 on the NSW property market in preparation for the 1 July 2020 revaluation.
The review found sales activity has continued with vendors and purchasers still active in the property market, despite COVID 19. The review also noted that while all sectors experienced reduced levels of sales activity, the residential property sector is the most active and has proved resilient.
Residential property median sale prices were monitored across NSW between March 2020 to May 2020. These were compared to the results of residential median sales prices in the prior year for the same period (March 2019 to May 2019) to identify sale price movement trends*.
Residential median sale price movements trends* are represented on the heatmaps provided.
*Median sale price movement is derived from sale price which includes improvements. Land value is the value of the land only and does not include the value of a home or other structures
Links to heatmaps
The information in these heatmaps is available as accessible content for screen readers here.