Dapto Property Factsheet 2nd Half 2018
The Dapto market recorded a median house price of $620,000 and median unit price of $550,000 in Q3 2018, which represented an annual (Q3 2017 – Q3 2018) price change of 1.6% and -3.1% respectively. Compared to Dapto 1st Half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) median price change of 12.2% (house) and 3.6% (units), properties in Dapto have become more affordable.
Annual (Q3 2017-Q3 2018) median property prices have softened in the City of Wollongong Local Government Area (LGA), by -9.0% to $680,000 for houses and by -5.1% to $560,000 for units. Compared to the LGA, the Dapto market has proven to be more resilient in terms of median price movement, providing owners and investors with higher capital growth. Furthermore, the Dapto house and unit markets are priced lower compared to the LGA, making it an extremely attractive market for first time home buyers.
Average vendor discount for houses swung from 3.4% in Q3 2017 to -5.8% in Q3 2018 for houses, and from 2.9% to -7.8% for units. Owners wanting to maximise their capital growth, or minimize risks, may consider selling options; as the median price trend in Dapto seems to mirror the softening trend in Sydney Metro.Median house rent price has increased in Dapto, by 3.1% to $495 per week over the past 12 months to Q3 2018. Median unit rent price however has softened considerably during the same timeframe, by -20.3% to $365 per week. That said investors are benefiting from rental yields of 3.9% (house) and 3.8% (units), higher than Sydney Metro. Thus, Dapto remains an ideal alternate location to invest outside the Sydney Metro area.