Lismore real estate market has risen 3.1% in the last quarter and 11.9% in the last 12 months

There is a theory among real estate agents that the Lismore numbers are still inflated because of the house buybacks in the NSWRAs (Reconstruction Authority) Resilient Homes Program.

Lismore's real estate market has risen 3.1% in the last quarter and 11.9% in the last 12 months, according to the latest Core Logic Regional Market Update for February 2025.

The Median value of house prices in Lismore is $541,716. In contrast, Ballina's quarterly result was -2.8%, with an annual increase of only 0.9% and a median value of $962,954.

There is a theory among real estate agents that the Lismore numbers are still inflated because of the house buybacks in the NSW RAs (Reconstruction Authority) Resilient Homes Program.

That is supported by Core Logic's bracket percentage. Lismore's largest bracket is in the $400-600,000 range, which is 32.6%, followed by 28.4% buying the $200-$400,000 range.

In Ballina, 39.1% of houses are in the $1m to $2m bracket. The next highest is the $600-$800,000 bracket with 21.4%.

Andrew Gordon from R Gordon Real Estate agreed that the house buybacks would cause some market distortion.

"Yes, there will be a level of distortion because that's an unnatural phenomenon, I guess, on the back of Australia's greatest disaster. But having said that, I still think that people recognise Lismore as affordable and perhaps a great place to live," said Andrew.

"I think there's the next generation that lives on the eastern seaboard who are probably looking at the block next to the home they grew up in saying I can't afford it and see Lismore as a great alternative.

"I reckon you'll see, in the next five years, those numbers might even go into double digits because we're seeing land releases like by 1055 Bruxner Highway and Eastwood Estate on Invercauld Road, all of those are starting to come around.

"Now, that's going to be a great supply, and I bet that when they both come on together, they will be competitive, and people will see that as an alternative to paying twice or three times the rates of our coastal cousins."

Brett McDonald from Raine & Horne Lismore told the Lismore App there has certainly been an uplift in the real estate market since the start of 2025.

"Well, certainly since the beginning of the year, there's been an uplift in sentiment amongst buyers, which means people are actually coming to look at homes, making offers, negotiating deals, and actually going ahead with the purchase. So, it's been a lot more positive since the start of the year than it was late last year," said Brett.

"The buyers are almost all locals. There are a few out-of-towners, coming from the cities, as there always is, but mostly we're seeing locals buy and move locally."

There is no pattern to the age of buyers or their reasons for buying.

"They are upsizing, downsizing or sidewaysing. There's a term I'd like to coin.

"There's every kind of reason for people buying. There's no specific group saying we're all upsizing over we're all downsizing. It's everybody. There are people coming to all the properties for all sorts of different reasons.

"What is noticeable now compared to last year is that we're seeing investors back in the market, which is really exciting because although that makes it more challenging for owner/occupiers when they are buying, we really do desperately need more rental stock back in this town.

"So it's good to see a few more investors coming back and looking for investment properties so that we can start to get more of a balance."

Andrew Gordon agreed that there has been an uplift in the market.

"We are seeing results. When a house gets listed, it gets sold. Can I say there are more buyers, probably not because it only takes one to buy a home.

"I would say you'd have to be way outside of pricing, I guess, to not get a result right now. If you're on the money, you will get a result. So, in my mind, that's positive.

"It's when you have homes on the market that are incorrectly priced and not selling, then you've got a problem. That's not the case right now."