Ingleburn Property Market Update 2nd Half of 2019
In Q2 2019, Ingleburn recorded median prices of $645,000 for houses and $412,500 for units. This represents annual (Q2 2018 – Q2 2019) price softening of -8.5% for houses and -16.0% for units. Over the same time, total sales slowed for Q2 2019, down by -22.1% for houses to 212 sales and by -37.8% for units to 74 sales. This said, an upswing in sales activity over the last six months suggests confidence is returning, making now an ideal time to buy.
Average vendor discounts between Q2 2018 and Q2 2019 were stable for houses, currently at -6.3%. It has widened for units to -9.2%, which is the highest discount over the past six quarters. Market conditions in Ingleburn continue to favour buyers, where sellers are willing to negotiate below their initial listing price. Now is the ideal time to enter the market.
Over the past 12 months, house rental yields in Ingleburn have steadily trended upward to reach 3.6% in June 2019, well above Sydney Metro’s 2.9%. This suggests the house rental market is in a healthy position, as confirmed by the strong increase in demand for rental properties in Ingleburn, which is up by 50.2% in the 12 months to Q2 2019.
2 bedroom houses have provided investors with stable rental returns annually, achieving a median rent of $360 per week.
Ingleburn recorded a vacancy rate of 3.3% in June 2019, which is slightly below the Sydney Metro’s average of 3.5%. Campbelltown LGA’s vacancy rate declined sharply to 2.8%, revealing a healthy rental demand for properties in the area.