Dapto Property Market Update 2nd Half of 2019

In Q3 2019, Dapto recorded a median house price of $570,000, and a median unit price of $520,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -7.3% for houses and -5.5% for units. At the same time, sale transactions increased by 6.1% for houses (to 122 sales) and slowed by -4.8% for units (to 20 sales). Increased affordability and decreased competition from buyers suggest now as a time to consider purchasing property in Dapto.

Average vendor discount between Q3 2018 and Q3 2019 have tightened significantly for both property types, to -5.1% for houses and -4.7% for units. Market conditions in Dapto continue to favour buyers, where sellers are still willing to negotiate below their initial listing price. This said, there has been a sharp tightening, suggesting now is the time to enter the market before these discounts disappear.

Over the past 12 months, house rental yields in Dapto increased to reach 4.3% in June 2019. This suggests the house rental market is in a healthy position, particularly as there was increased demand for rental properties in Dapto across the same time period (up by +11.9% in the 12 months to Q3 2019, with 132 house rentals).

4+ bedroom houses have provided investors with +5.5% rental growth annually, achieving a median rent of $580 per week.

Dapto recorded a vacancy rate of 1.5% in June 2019, which is a very healthy position as it is at an even lower rate than the already healthy 1.9% in Wollongong LGA. This confirms a healthy rental demand exists for properties in Dapto.