Ramsgate Beach Property Factsheet 1st Half of 2018
The Ramsgate Beach property market continues to show positive capital growth over the past 12 months to Q1 2018, with median house price growing by 0.7% to $1,595,500 and median unit price growing at a stronger rate of 4.2% to $755,500. Compared to the 2nd half 2017 Ramsgate Beach research report positive growth in both median house and units prices has softened (1.9% and 12.6% previously), which indicates a return to more sustainable growth and increased affordability for first home buyers.
The Ramsgate Beach property market continues to show positive capital growth over the past 12 months to Q1 2018, with median house price growing by 0.7% to $1,595,500 and median unit price growing at a stronger rate of 4.2% to $755,500. Compared to the 2nd half 2017 Ramsgate Beach research report positive growth in both median house and units prices has softened (1.9% and 12.6% previously), which indicates a return to more sustainable growth and increased affordability for first home buyers.
Average vendor discounting for houses remained in the seller’s favour in Q1 2018, at 3.7%. The same can be said for units, with average vendor discount tightening to -0.9% over the past 12 months. Now is an ideal time for buyers and sellers to transact in the Ramsgate Beach, as buyers benefit from increased affordability (based on slower median price growth) whilst sellers achieve over (houses) or very near to (units) their first list asking prices.
The rental market in Ramsgate Beach continue to serve investors well, with weekly median rental prices increasing over the past 12 months to Q1 2018 – by 2.3% to $675 per week for houses and 2.0% to $500 per week for units. Vacancy rates in Ramsgate Beach (1.5%) is low when compared to Sydney Metro (2.6%) and has travelled downwards, suggesting a healthier rental demand. Now is the perfect time for investors to enter market, capitalizing on increased median sale price affordability and a healthy investment market.
