Bexley North

7 Shaw Street Bexley North, NSW, 2207

02 9502 2066

Kingsgrove

Shop 6/215-231 Kingsgrove Road Kingsgrove, NSW, 2208

02 9502 2111

Beverly Hills

526B King Georges Road Beverly Hills, NSW, 2209

02 9579 6355

Ramsgate Beach

207 Ramsgate Road Ramsgate Beach, NSW, 2217

02 9529 4666

Kingsgrove Property Factsheet 1st Half of 2019

Kingsgrove recorded a median house price of $1,126,500 in Q1 2019, representing an annual (Q1 2018-Q1 2019) softening of -12.0%. Median unit price was $628,500; which represented a relatively stable growth. Compared to the Kingsgrove Research Factsheet 2nd half 2018, which reported an annual (Q3 2017-Q3 2018) price growth of -12.1% (house) and 4.7% (units), houses have maintained its value whereas units have become more affordable. This is a comfort to house owners and an opportunity for those wanting to enter the unit market.

Georges River, Canterbury-Bankstown, and Bayside Local Government Area (LGA) recorded a combined median house price of $955,000 and median unit price of $630,000 in Q1 2019, an annual (Q1 2018-Q1 2019) softening of -17.0% (house) and -6.7% (units). Compared to the LGA Kingsgrove provides higher capital growth to owners, with on-par price entry point for units and a premium price for houses.

The Kingsgrove rental market has grown in volume, with the number of properties rented increasing by 34.9% (house) and 84.3% (units) between Q1 2018 – Q1 2019. However the market is showing signs of saturation, with median rental price declining by -6.1% (to $620 per week) for house and -6.3% (to $450 per week) for units. That said, given the softening in sales price, rental yield in Kingsgrove has increased over the past 5 months to December 2018, from 2.6% to 2.9% (house) and from 3.5% to 4.1% (units); confirming Kingsgrove as a viable investment opportunity.

Kingsgrove is set to invest approximately $118.1M in the 1st half of 2019, with the majority dedicated to mixed-use projects (85.8%) and the rest in residential (8.2%) and commercial (6.0%).