Ingleburn Property Factsheet 1st Half 2018
The Ingleburn property market recorded a median house price of $735,000 and $476,750 for units in Q4 2017, representing impressive annual growth of 9.3% for houses and 5.9% for units. Meanwhile, the Cambelltown LGA median property prices grew at a more moderate annual rate of 4.0% to $650,000 (houses) and 4.2% to $476,750 (units). The Ingleburn property market is achieving higher median house prices and a stronger capital growth than the Campbelltown LGA, indicating a highly desirable location for astute investors and buyers.
House rental prices in Ingleburn have experienced a strong growth of 6.7% over the past twelve months to Q4 2017, currently at $480 per week. Unit rental prices have remained relatively stable at $380 per week. Over the same time, the number of rental properties increased significantly by 43.8% (house) and 67.0% (units) indicating high rental demand. This promotes Ingleburn as a highly profitable yet more affordable investment option than Sydney, and now is the time for investors to act.
The Ingleburn vacancy rate was recorded at 2.0% in December 2017 which has trended slightly upwards over the past 12 months. That said, the Campbelltown LGA (2.7%) and Sydney Metro (2.6%) vacancy rate has remained higher, suggesting Ingleburn as a more attractive opportunity for positive investment returns.
A substantial $346.9M worth of new projects are set to commence in Ingleburn over the 1st half of 2018. Commercial projects accounted for the majority of development value (51.7%), totaling an estimated $179.4M of projects. This was followed by residential projects, at approx. $101.1M (29.1%), infrastructure ($55.4M, or 16.0%) and mixed use developments ($11.0M or 3.2%).A significant commercial project over the 1st half of 2018 is the Qube Warehouse and Logistics Hub Moorebank. The project is estimated at $141.5M and will involve the construction of a variety of sized warehouses with ancillary office space. The project is anticipated to complete by May 2020 and will play a valuable role in furthering the local economy and promoting job growth.