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

Ramsgate Beach Property Market Update 2nd Half of 2019

In Q3 2019, Ramsgate Beach recorded a median house price of $1,250,000, and a median unit price of $666,500. This represents annual (Q3 2018 – Q3 2019) median price softening of -13.2% for houses and -4.7% for units. At the same time total house sales slowed, down by -2.4% (to 40 sales), while units sales remained steady (at 91 sales). The 6-months outlook is more positive for the Ramsgate Beach however, suggesting a return in market confidence.

Average vendor discount between Q3 2018 and Q3 2019 has widened to -3.7% for houses, which favours buyers. This is good news for those wanting to enter the market. At the same time the unit market has swung to a premium of 2.2%, where buyers now must offer above the initial list price.

Over the past 12 months, house rental yields in Ramsgate Beach increased steadily to reach 2.8% in June 2019, a level very close to Sydney Metro’s 2.9%. This suggests the house rental market is in a fairly healthy position, as does the decline in average days to let a house across the same time period (down by -24.4% to 22 days in the 12 months to Q3 2019).

3 bedroom houses have provided investors with the best rental growth annually, achieving a median rent of $650 per week.

Ramsgate Beach recorded a vacancy rate of 3.2% in June 2019, which is slightly below Sydney Metro’s 3.5% average. This represents an increasing trend, thus landlords need to aim for longer leases to mitigate vacancy risk.