Bexley North

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 | Corner of Alfred Street Ramsgate Beach, NSW, 2217

02 9529 4666

Kingsgrove Property Market Update 1st Half of 2021

In Q1 2021, Kingsgrove recorded a median house price of $1,525,000, and a median unit price of $620,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 18.7% for houses and a price softening of -3.9% for units. Between Q1 2020 – Q1 2021 total sales improved strongly, by 44.2% for houses (to 137 sales) and by 54.8% for units (to 108 sales). Median price growth and increased sales suggest real returns in capital investment in the housing market, whereas units have become slightly more affordable for first home buyers in Kingsgrove. Now is the time to transact in the market.

Average vendor discounts between Q1 2020 and Q1 2021 have remained relatively stable for houses, at a premium of +4.5%. It has swung to a discount for units, of -1.4%. House market conditions continue to favour vendors, as buyers are willing to offer above initial listing prices. Units have now recorded a discount, in good news for first home buyers.

In March 2021, house rental yields in Kingsgrove were recorded at 1.8%. In the 12 months to Q1 2021, the median house rental price softened -4.4% to reach $593 per week, however average days on the market declined by -20.3% (to 26 days). Overall this suggests Kingsgrove has remained a relatively resilient house rental market throughout COVID-19.

3 bedroom houses have provided investors with +1.7% rental growth annually, achieving a median rent of $600 per week.

Also in March 2021, Kingsgrove recorded a vacancy rate of 3.3%, on-par with Canterbury-Bankstown LGA (3.3%) and slightly below Sydney Metro (3.4%). Vacancy rates in Kingsgrove remain above the Real Estate Institute of Australia’s healthy benchmark of 3.0%, and have fluctuated since December 2020. Rental demand has improved since then, however investors in the market may wish to sign tenants to longer leases for better cashflow security.