Rosny Park Property Market Update 1st Half of 2022

In Q4 2021, Rosny Park, which in this report encapsulate all of Clarence City Council, recorded a median house price of $780,000, and a median unit price of $565,000. This is an annual (Q4 2020 – Q4 2021) median price growth of 29.4% for houses and 18.0% for units. Between Q4 2020 – Q4 2021 total sales slowed, by -2.2% for houses to (219 sales) and by -27.2% for units (to 59 sales). The market is undersupplied, as median price growth is alongside lower sales volume. Now is an ideal time for owner occupiers and downsizers to transact, due to increased demand and higher return on capital investment.

Average vendor discounts between Q4 2020 and Q4 2021 have travelled towards a higher premium for both property types, to 11.0% for houses and 11.6% for units. Market conditions in Rosny Park, which in this report encapsulate all of Clarence City Council, favour sellers, where buyers offer above the initial listing price

In December 2021, house rental yields in Rosny Park ,which in this report encapsulate all of Clarence City Council, were recorded at 3.9%. Rental yields have trended lower as median house sale price growth in the 12 months to Q4 2021, of 29.4%, have outpaced median house rental price growth (13.0%). That said median house rental price in Q4 2021 $520 per week, with a -13.6% lower average days on the market (to 19 days). Overall this represents a resilient rental market.

4+ bedroom houses have provided investors with +9.1% rental growth annually, with a median rent of $600 per week.

Also in December 2021, Rosny Park recorded a vacancy rate of 0.4%, below that of Clarence City LGA (0.7%) but slightly above Hobart Metro (0.4%). Vacancy rates in Rosny Park remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% and trended within 0.5% in the past 12 months, even amidst COVID-19 conditions. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Rosny Park.