So, you’re probably wondering: is it really worth buying a brand-new home in New South Wales, or should you stick to an older, established place? It’s a valid question, especially as we’re in 2025, where the housing market feels like it’s running on its own wild set of rules.
First things first, the housing market in Australia has been on a constant upward trend. Even though interest rates shot up over the past couple of years, prices barely blinked.
By May this year, the national Home Value Index (HVI) had already jumped 1.7% in just five months. And it’s not just Sydney doing this; every capital city saw increases. The primary reason for this was that rate cuts (and the expectation of more cuts) were giving buyers more borrowing power.
Cheaper borrowing means more people can jump in, and when more people want in but there aren’t enough homes, prices rise.
Did you know nearly one in three Australians who bought a home last year chose a new build instead of an existing property? That’s about 31% of buyers in the market.
A decade ago, most people would go for something established, renovate it, and live with the quirks. Now, lifestyle changes, government incentives, and even the housing crisis are making new builds more attractive.
The push towards new developments in Sydney and across New South Wales is being driven by a few things:
So, if you’re scrolling listings for houses for sale in Bonnyrigg Heights or checking out houses for sale in Edmondson Park, chances are you’ll see plenty of brand-new estates popping up.
Buying a new home comes with its own set of pros and cons.
At the end of the day, costs and budget are where most decisions land. Right now, the median house price across combined capitals is over a million dollars. That’s steep, especially for first-home buyers.
Buying an older house closer to the Sydney CBD usually means paying a premium, not just because of location but also because of scarcity. And then, factor in renovations and your budget would have to skyrocket.
On the other hand, new home developments in Sydney are often built in expanding suburbs. They might be 30 to 50 kilometres out, but the trade-off is lower purchase prices, modern features included, and fewer immediate maintenance headaches.
The government has thrown in schemes like the expanded five per cent deposit guarantee, which will officially start next year. But even now, buyers are jumping in earlier to beat the rush. Add in the First Home Owner Grant and other schemes, and suddenly those new builds in Western Sydney look even more appealing.
Mortgage brokers are saying they’re seeing more first-home buyers than before, using these incentives to get in.
In newer suburbs like Edmondson Park and Bonnyrigg Heights, you can get to enjoy parking that’s actually available, shopping centres nearby, parks, walking tracks, and even better digital infrastructure. Compare that to inner-city living, where parking is a nightmare, traffic is constant, and houses can be decades old.
Of course, the trade-off is the commute if you work in the city. But with more jobs shifting west and remote work being common, that commute isn’t the dealbreaker it once was.
It’s not all perfect. Buying new has its own risks, such as the following:
With labour shortages and rising costs, projects can drag out longer than expected. Developers can also cut corners, not always, but it happens, so you need to research builders and developers carefully.
There’s also the fact that some brand-new homes don’t hold their value as strongly in the short term. If you buy in a brand-new estate where hundreds of similar houses are being built, selling too soon could mean competing with newer stock.
Established homes, by contrast, often sit in tightly held areas where supply is more limited.
New developments are usually on the edges of cities. That’s why you see so many new estates in Western Sydney. If you work in the CBD, you’ll face a longer commute. Sure, working from home makes this easier, but it’s still something to consider.
While new builds can offer savings upfront, you’re also waiting months (sometimes years) for completion. During that time, prices may move, interest rates may change, and your situation might shift.
So, why would anyone still choose an older property? For one, established homes tend to sit in more central, mature suburbs. You get closer access to schools, shops, transport, and established communities.
But with that comes age. Older houses can need rewiring, plumbing upgrades, insulation improvements, and constant maintenance. That character-filled Federation home might charm you, but charm doesn’t pay for the new roof.
Yes, you might pay more, and yes, you’ll probably face renovation costs. But if you find something solid in a well-connected suburb, it might hold its value better over time compared to a house in a far-off new estate.
Also, for buyers who want to be in certain postcodes, maybe near family, work, or cultural communities, established homes can make more sense, even if they cost more upfront.
Even in real estate in Green Valley, it’s evident that older homes can sometimes offer larger blocks and a sense of community that brand-new estates haven’t built up yet.
KPMG predicts house prices will rise nationally by 5.6% in 2025. There’s one short reason for this: Demand is simply outstripping supply.
That means whether you’re looking at real estate in Green Valley, or new developments in Bonnyrigg Heights, waiting might just mean paying more.
The rental market is weighing in some level of pressure as well. We’ve already seen rent jump 7.8 per cent in the past year and are expected to rise another four to five per cent over the next two years.
That pushes more renters to think about buying instead, which again keeps prices climbing.
At the end of the day, whether you lean towards a brand-new build in the growing suburbs or an established home with history and character, the decision is too big to leave to chance.
The market is moving, incentives are changing, and opportunities are here today that might not be there tomorrow. Let our team at Ray White Green Valley help you find not just a house, but the right home for your future.
If you’ve been scrolling endlessly through listings or wondering if now is the right time to move, go ahead and talk to the team at Ray White Green Valley.
With our local expertise, strong negotiation skills, and proven track record, we’ll make sure your next home is the best real estate investment you’ve ever made. Contact us today!
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