Hurstville Property Market Report 2nd Half of 2019

In Q2 2019, Hurstville recorded a median house price of $1,340,000 and a median unit price of $671,000. This represents an annual (Q2 2018 – Q2 2019) median price softening of -5.0% for houses and -5.5% for units. At the same time (Q2 2018 – Q2 2019), total house sales increased by 9.1% whilst unit sales decreased by -36.3%. Properties in Hurstville have become more affordable; thus, buyers are encouraged to take this opportunity to enter the market. 

Average vendor discount between Q2 2018 and Q2 2019 has widened for houses, now at -10.2%. There is a similar trend for units, widening to -6.1%. Market conditions in Hurstville favours buyers, as sellers are willing to negotiate below their initial listing price. This is particularly true for houses, with Q2 2019 recording the highest vendor discount to date.

In the 12 months to Q2 2019 rental activity increased by 13.6% for houses and 30.2% for units. The median house rental price strengthened by 1.7% to $590 per week, however the unit median price slightly softened by -3.6% to $530 per week. There is an increased preference for renting, with the house market providing investors with strong returns.

Hurstville houses recorded a yield of 2.7% in June 2019, slightly below Georges River LGA and Sydney Metro. However, units in Hurstville recorded a yield of 4.1%, above both Georges River LGA and Sydney Metro respectively.

Hurstville recorded a vacancy rate of 2.9% in June 2019, representing a slightly declining trend over the past 6 months and sitting below Georges River LGA and Sydney Metro. This confirms a healthier rental demand for properties in Hurstville.