PRD Kogarah 120 Railway Parade Kogarah, NSW, 2217 02 9588 2977
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PRD Kogarah Real Estate  →  Research Hub  →  Kogarah Property Factsheet 1st Half 2018

Kogarah Property Factsheet 1st Half 2018

Kogarah recorded a median house price of $1,233,750 and $670,000 for units in Q1 2018, which represents an annual price change of -11.2% and -0.7% respectively. House prices in the Georges River Local Government Area (Q1 2017-Q1 2018) softened by -18.2% to $1,285,000 and unit prices grew by 3.7% to $723,000. The partial softening in Kogarah is on par with Sydney's cooling in property prices, which suggest a return to more sustainable level of growth. Now is the time for first home buyers to secure their dream property in a blue-chip residential area.

Kogarah recorded a median house price of $1,233,750 and $670,000 for units in Q1 2018, which represents an annual price change of -11.2% and -0.7% respectively. House prices in the Georges River Local Government Area (Q1 2017-Q1 2018) softened by -18.2% to $1,285,000 and unit prices grew by 3.7% to $723,000. The partial softening in Kogarah is on par with Sydney's cooling in property prices, which suggest a return to more sustainable level of growth. Now is the time for first home buyers to secure their dream property in a blue-chip residential area.

Average vendor discounting for houses has widened to -0.3%, while average discount for units widened to -2.7% over the past 12 months to Q1 2018. This represents a pivot from what has been a sellers’ market over the past 2-3 years into becoming more of a buyers’ market. This widening in average vendor discount suggests that sellers are more willing to accept a lower offer than their first asking price, thus now is the time for buyers seek out and secure more affordable opportunities. This also signals now is the time for sellers to transact in the market, to ensure they fully capitalize on their investments.

Kogarah’s property market is set to received spill-over benefits from an injection of approx. $218.4M of projects commencing in the 1st half of 2018. In total, 725 units and 28 townhouses will begin in the 1st half of 2018. The main focus of development is on adding property stock, however, increase in local jobs from higher commercial activity will provide a good boost for socio-economic growth. This gives buyers confidence to invest in this well-sought-after market.

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