FALCON MARKET SNAPSHOT – MAY 2025

Falcon continues to perform strongly, with rising property prices, a busy mid-to-high-end market, and tight rental conditions signalling steady demand.

HOUSE PRICES RISING

The median house price has reached $680,000 as of May 2025, up 20.4% in the past year. That’s a sharp rise from $565,000 in 2024. Unit prices remain high at $679,500, while land is selling at a median of $255,000.

SALES

Higher-end buyers are leading the charge, with 36% of house sales over $800,000 and almost none below $350,000. Most sales fall between $500,000 and $799,999, driven by established buyers and upgraders.

LISTINGS

Stock remains tight, with just 22 listings on reiwa.com at the end of May — a slight increase from last year. Homes are selling in a median of 22 days, with three-bedroom homes moving fastest at 13 days.

LAND

Land prices are holding steady at $255,000. Demand remains consistent, especially for smaller, easy-to-maintain blocks.

RENTALS

Rents remain strong, with houses averaging $557 per week and units around $600. Leasing is quick — typically within 15 days — and vacancy remains low, keeping pressure on renters across all price points