Kingsgrove Property Factsheet 1st Half of 2018

The Kingsgrove property market recorded a median house price of $1,300,000 and $614,500 for units in Q1 2018, which represents an annual price change of 3.2% and -3.9% respectively. Over the same period of time (Q1 2017 – Q1 2018), house prices in the combined Local Government Area (of Georges River Council, Bayside Council, and Canterbury-Bankstown Council) changed by -0.7% to $1,150,000 and unit prices grew by 2.4% to $686,000.

Compared to the surrounding LGA units can be secured at a more affordable price in the Kingsgrove property market, however houses offer a more premium price. The softening of unit prices is reflective of Sydney's cooling market, suggesting a return towards a more sustainable market. Now is the time for unit buyers to buy and capitalise on increased affordability.

Interest in Kingsgrove has been recorded at an average of 879 online visits per property, which is higher than the NSW average of 861. The number of house rentals experienced a 51.0% increase over the past 12 months to Q1 2018, indicating a significant increase in rental demand. This is accompanied by a 3.2% growth in median weekly rent price, which suggests real rental growth and points to a sustainable return for investors. With vacancy rates (2.2%) currently lower than Sydney Metro (2.6%), investors will do well in this highly demanded market and need to consider Kingsgrove when evaluating their portfolio.