Kogarah Property Factsheet 1st Half 2017
The Kogarah property market has witnessed exceptional performance over the past 12 months to Q1 2017 with strong demand for housing spurring exceptional annual price growth.
The Kogarah property market has witnessed exceptional performance over the past 12 months to Q1 2017 with strong demand for housing spurring exceptional annual price growth.
The current median house price is at $1,415,000 and $663,000 for units, with impressive annual price growth figures of 20.4% and 9.6% respectively. Kogarah’s median prices sit below their local government area’s (LGA) median ($1,425,000 and $738,000 respectively), which indicates that the Kogarah market presents a unique opportunity whereby they offer higher affordability in comparison to the LGA, yet with the potential of stronger capital growth.
Incoming developments for the 1st half of 2017 total an estimated value of $139.9M. The bulk of developments are mixed use ($102.5M) and residential ($20.0M). In total mixed use and residential developments will see construction of 322 dwellings, with the large majority of this figure derived from the Kogarah RSL Club Mixed Development which will add 220 apartments ($83.0M).
