PRD Kogarah 120 Railway Parade Kogarah, NSW, 2217 02 9588 2977
Request An Appraisal
· Join Up
PRD Kogarah Real Estate  →  Research Hub  →  Kogarah Property Factsheet 1st Half 2019

Kogarah Property Factsheet 1st Half 2019

Kogarah market recorded a median house price of $1,155,000 and median unit price of $637,500 in Q1 2019, which represented an annual (Q1 2018-Q1 2019) softening of -8.0% for houses and -5.9% for units. Compared to the Kogarah 2nd Half 2018 Research Factsheet, which recorded an annual (Q3 2017-Q3 2018) price softening of -3.5% (house) and -5.9% (units), houses in Kogarah have become more affordable whereas units have remained stable. This is good news for unit owners and signals an ideal time for first home buyers to enter the house market.

Kogarah market recorded a median house price of $1,155,000 and median unit price of $637,500 in Q1 2019, which represented an annual (Q1 2018-Q1 2019) softening of -8.0% for houses and -5.9% for units. Compared to the Kogarah 2nd Half 2018 Research Factsheet, which recorded an annual (Q3 2017-Q3 2018) price softening of -3.5% (house) and -5.9% (units), houses in Kogarah have become more affordable whereas units have remained stable. This is good news for unit owners and signals an ideal time for first home buyers to enter the house market.

Georges River Council Local Government Area (LGA) property market also softened between Q1 2018-Q1 2019, by -12.1% to $1,230,000 for houses and by -6.0% to $658,000 for units. Compared to the LGA houses in Kogarah are a premium product, both in terms of entry price and capital growth. Units in Kogarah are more affordable with on-par capital growth, thus ideal for first time unit buyers.

Kogarah median rental price has softened between Q1 2018-Q1 2019, by -7.7% to $600 per week for houses and by -2.0% to $490 per week for units. This represented a relatively resilient rental market, particularly for units, as the number of properties rented increased in this timeframe, by 19.7% (house) and 31.4% (units). Rental yield in Kogarah grew between June – December 2018, from 2.5% to 2.7% for houses and from 3.8% to 3.9% for units, a comfort to investors. Given the softening in median sale prices and an increase in rental yield, now is an ideal time to enter the market.

Kogarah is set to invest approximately $229.2M in future developments, majority of which are dedicated to residential and (57.0%) and mixed-use (25.7%) projects.

Popular

Latest

 Connect with us