Bexley North Property Factsheet 1st Half 2018

The Bexley North property market recorded a median house price of $1,200,000 in Q2 2018, representing an annual price change of -9.8% (Q2 2017 – Q2 2018). Similarly, house prices in The Bayside Council experienced a contraction of -9.0% to $1,320,000. This is reflective of Sydney’s cooling in property prices, suggesting a return towards a more sustainable market. Now is the time for house buyers to enter the market and capitalise on increased affordability.

For the first time in six quarters average vendor discounting for both property types are in the negative realm, currently at -1.4% (house) and -1.2 (units), thus buyers are urged to take advantage of this great opportunity in Bexley North's property market.

The Bexley North rental market has experienced a median price growth of 6.7% for units over the past 12 months to Q1 2018, currently at $480 per week. Investors are benefiting from low vacancies of 2.0% and returns of 3.7%. Unit yields are performing on par with Sydney’s (3.8%), vacancy rates are lower than Sydney’s (2.6%), and average days to rent has declined to 22 days in Q1 2018. Investors are strongly encouraged to expand their portfolios in Bexley North’s rewarding property market, particularly for units.

Bexley North is set to see approx. $15.1M worth of mixed use projects, $28.3M residential and $8.9M commercial developments. A continued mixture of developments will foster local job growth, creating a positive spill-over effect into the property market in the near future.