Laurieton Property Market Update 2nd Half of 2021
In Q3 2021, Camden Haven recorded a median house price of $646,250 and a median unit price of $458,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 9.5% for houses and 7.5% for units. Between Q3 2020 – Q3 2021 total house sales picked up by 9.7% (to 102 sales) and remained stable for units at 20 sales. Median price growth alongside increased or stable sales suggests real returns on capital investment in Camden Haven. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.
In Q3 2021, Camden Haven recorded a median house price of $646,250 and a median unit price of $458,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 9.5% for houses and 7.5% for units. Between Q3 2020 – Q3 2021 total house sales picked up by 9.7% (to 102 sales) and remained stable for units at 20 sales. Median price growth alongside increased or stable sales suggests real returns on capital investment in Camden Haven. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.
In Q3 2021, Camden Haven recorded a median vacant land price of $399,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 45.1%. Between Q3 2020 – Q3 2021 total land sales grew, by 107.7% to 54 sales. This suggest there is real returns on capital investment in Camden Haven, as price growth is alongside increased sales.
Average vendor discounts between Q3 2020 and Q3 2021 have tightened for both property types, to -1.3% for houses and -1.4% for units. Market conditions in Camden Haven are shifting towards a sellers’ market, with sellers achieving final sale prices closer to their first list price. Buyers can still benefit from a discount however time is limited.
In September 2021, house rental yields in Camden Haven were recorded at 4.1%. In the 12 months to Q3 2021, the median house rental price increased by 23.6% to reach $550 per week, further complemented by average days on the market declining by -11.8% (to 15 days). This represents a strong performing rental market, in positive news for investors.
2 bedroom houses have provided investors with +17.6% rental growth annually, with a median rent of $400 per week.
Also in September 2021, Camden Haven recorded a vacancy rate of 0.8%, slightly above the Port Macquarie-Hastings LGA (0.4%) but well below Sydney Metro (2.7%). Vacancy rates in Camden Haven have slightly fluctuated in the past 6 months, but still recording a much lower rate compared to November 2020 and remaining well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. There is a healthy rental demand and a conducive investment landscape.
