Dapto Property Factsheet 1st Half of 2018
The Dapto market is showing signs of great promise in 2018, with Q1 2018 median house price recorded at $645,000 and median unit price of $570,000. This represents an annual price change of 12.2% and 3.6% respectively, which although when compared to the annual price growth recorded in the 2nd half 2017 research report (of 17.9% for house and 10.7% for units) is lower, it signals a return towards a more sustainable market – increased affordability for first home buyers whilst still offering property owners positive returns.
The Dapto market is showing signs of great promise in 2018, with Q1 2018 median house price recorded at $645,000 and median unit price of $570,000. This represents an annual price change of 12.2% and 3.6% respectively, which although when compared to the annual price growth recorded in the 2nd half 2017 research report (of 17.9% for house and 10.7% for units) is lower, it signals a return towards a more sustainable market – increased affordability for first home buyers whilst still offering property owners positive returns.
The Dapto rental market continues to be rewarding for investors, as median house weekly rent has increased by 8.9% over the past 12 months to Q1 2018, to $490. Similarly the unit rental market has also shown positive growth, of 2.7% to $385 per week in Q1 2018. With an extremely low vacancy rate of 1.0% in December 2017, much lower than Sydney Metro’s 2.6%, Dapto is an investment market not to be missed.
Dapto is set to see approximately $94.9M of future projects commencing between 2017 and 1st half 2018. In total Dapto plans to add 26 dwellings, 252 subdivision lots, 34 townhouses, and 13 villas between 2017 and 1st half 2018. This will further cater to property demands from the wider Wollongong LGA.
A major commercial development is the Illawarra International Health Precinct, estimated at $70.0M and due to have commenced construction in mid-2017. The new hospital will further stimulate the Dapto local economy as it will create new jobs and attract more population, resulting in positive spill-over effects on the property market.
