Griffith real estate prices on the way up, Domain report shows

In the past 12 months the median house price in the city has increased by 6.5 per cent to $410,000, the Domain House Price Report for the June quarter shows.

The price jump was no surprise to Soul Property Agents' Nathan Thomas who said Griffith has a lot to offer.

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"That growth shows that the local economy is very, very strong and in any growing economy they tend to spend what they're earning," he said.

"House sale figures show how confident people are with regional NSW at the moment.

"There's huge growth in new areas like Collina. That area has seen the most new developments and typically these new houses are at a lot higher price."

His colleague Angelo Cirillo said living near a capital city may be a thing of the past with the COVID-19 pandemic shifting the way many people work.

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"The opportunity for COVID to have an even bigger impact [on the city's property market] is real," he said

"It's allowed people to have a work from home lifestyle."

Elders property consultant Brendan Catanzariti said there was a noticeable difference as soon as federal government restrictions eased on property inspections and auctions.

"When they opened everything back up it's just gone berserk. We've had strong demand and a lack of supply," he said.

"No-one's travelling at the moment and people are looking at doing some [housing] projects."

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While the price increase does make it tougher for first home buyers, Mr Catanzariti said it was good news for sellers and investors.

"There's no doubting that it's a seller's market these days, there's no two ways about it. You're not going to find a bargain in this market."