Why Lithgow property trends reveal a hidden surprise
Given its location, you would think Lithgow property trends would reach the upper ends of the property market. Especially with this region sitting on the edge of The Blue Mountains and Sydney within commuting reach.
However, Lithgow property trends are much cheaper than anticipated matching values more akin to regional centres than larger urban sprawls.
This makes this former railway town an accessible and appealing place for potential homeowners to settle down without breaking the bank.
Given that the region straddles major highways and has direct links to Sydney and several regional centres, Lithgow has much going for it. So what pleasant surprises could you discover within Lithgow property trends?
Lithgow Snapshot
Lithgow finds itself nestled in quite a unique spot. The town is the hub of the greater City of Lithgow region – supporting a population of just over 30,000. The area was once one of Australia’s fastest-growing industrial hubs – particularly in mining and metalworks. It also shared a large role in building railways linking regional New South Wales to Sydney and the rest of Australia.
However, the town’s role has diversified finding itself as an area that thrives in both industry and tourism. Sporting a population of 12,000 – the town has become a popular gateway to explore stunning natural wonders. This includes the World Heritage-listed Blue Mountains as well as Wollembi National Park. The town also sits on the Greater Western Highway providing direct links by both road and rail to both Sydney & Bathurst. This unique position makes the region one of the more underestimated regions in regional NSW.
General Facts
Population: 20,842 (2023)
Dwellings: 10,382
Households: 8.946
Median Age: 47 years old
Lithgow Property Trends
Lithgow
Due to its rural setting, Lithgow has remarkably cheaper property than many towns of a similar size and proximity to Sydney. According to Realestate.com.au, the median house price in Lithgow is $514,150 marking a rise of 4% in 2024. It fits in line with common Lithgow property trends within recent years with house prices only breaking the $500,000 milestone for the first time in July 2023.
What this means is that families or couples can settle in the town for much less than similar towns further east. For example, a 4-bedroom family costs an average of $664,500. This equals the price of a 2-bedroom home in areas closer to Sydney or even the Central Coast. With 2 bedroom houses costing an average of $427,500, it gives both families and couples the chance to find a place on the property ladder.
Population: 11,197 (2023)
Average House Price: $514,1150
Average Rental Figure: $400
Bowenfels
The first town in the Lithgow area, Bowenfels is a town that has changed tremendously through the years. The small town is effectively split in two – Bowenfels & South Bowenfels – separated just by an old homestead. Yet, this hasn’t stopped urbanization from swallowing up the two towns to become a joint populace of around 3,500.
Where Bowenfels comes to life is through some of the cheapest properties anywhere in NSW. The town boasts a median house price of $427,500 – a remarkable drop of 8% compared to values in August 2023. This means that properties are also 15% cheaper here than in Lithgow itself. It’s a far cry from November 2022 when prices in the town hit a peak of $575,000. With these prices dropping significantly in recent months, it’s no wonder why Bowenfels offer some of the cheapest properties in the Lithgow area.
Population: 2,048 (2022)
Average House Price: $427,500
Average Rental Figure: $370 p/w
Wallerawang
Found 14 km north of Lithgow, the small town of Wallerawang has discovered fluctuating fortunes throughout its history. The town was once a booming railway town that sat on the heart of traffic flowing through the area. This has slowed dramatically in the 21st century with the town’s power station being its biggest calling card.
However, this hasn’t stopped the town from echoing the Lithgow property trends in recording strong growth. As of August 2024, the average house price in Wallerawang is $540,000. Whilst this is down from the May 2023 peak of $585,000, Wallerawang houses continue to hold some value with a 4-bedroom house costing an average of $662,500. This makes it still one of the better towns within the Lithgow area.
Population: 1,952 (2023)
Average House Price: $540,000
Average Rental Figure: $480p/w
Portland
On the northern edge of the City of Lithgow, the town of Portland is one steeped in history. The town was home to the first cement factory in Australia – a sign of the industrial heart that beat in the region in the early 1900s. Nowadays, the town has become equally as popular as a base to explore the Capertree Canyon – the second-west canyon in the world.
Despite having some unique claims, Portland has some of the cheapest properties within the area. This is because the average house price sits at $422,500. This is a steep drop where values have fallen 13% between August 2023 and August 2024. This means a 3-bedroom house costs an average of $440,000 – considerably cheaper than other major towns such as Lithgow or Wallerawang.
Population: 2,424
Average House Price: $422,500
Average Rental Figure: $400
Conclusion
As you can see, Lithgow property trends have revealed just how cheap it can be to move out to this part of regional NSW. Despite being just within reach of Sydney, it’s not hard to find houses in the region for less than $500,000 – a significant drop compared to coastal regions and cities.
It can provide some encouragement for those in Lithgow and surrounding areas. Despite property values being much lower and falling dramatically in some towns, the lower prices could attract Sydney residents looking to escape the hustle and bustle of city life. It’s why it’s worth keeping an eye out especially when Lithgow property trends show a chance to get on the property ladder.
To seek out the best options for purchasing a home, speak to a Wise Buy Home Lender for guidance today.
Our property experts can give you all the advice you need to work out the best way to get on the property ladder today. Speak to our team today to see how they can help you benefit from Lithgow property trends today.
