Macquarie Park Property Market Update 1st Half of 2021
of $750,000. This represents annual (Q4 2019 – Q4 2020) median price growth of 6.7% for houses and In Q4 2020, Macquarie Park recorded a median house price of $1,800,000, and a median unit price a price softening of -13.1% for units. Between Q4 2019 – Q4 2020 total house sales increased by 10.6% (to 156 sales), while units slowed by -32.5% (to 247 sales). Macquarie Park’s house market presents an opportune time to sell, with not only median price growth but also an increase in the number of house sales. The Macquarie Park unit market is now more affordable for first home buyers.
Average vendor discounts between Q4 2019 and Q4 2020 have widened to -3.4% for units and although remains a premium for houses, have lessened to 2.3%. Market conditions in Macquarie Park are split, with house discounting favouring sellers, while units still favour buyers overall. Now is a good time to transact.
In December 2020, house rental yields in Macquarie Park were recorded at 3.3%. In the 12 months to Q4 2020, the median house rental price has slightly softened to sit at $590 per week, however average days on the market declined by -12.5% (to 28 days). This is reflective of COVID-19’s impact on the property market.
4+ bedroom houses have provided investors with +1.3% rental growth annually, with a median rent of $800 per week.
Also in December 2020, Macquarie Park recorded a vacancy rate of 7.0%, above that of Ryde LGA (5.3%) and Sydney Metro (3.6%). Vacancy rates in Macquarie Park also sit above the Real Estate Institute of Australia’s healthy benchmark of 3.0%, though the market has been recovering since its peak in January. This downward trend highlights the future potential of Macquarie Park, while also prompting current investors to have tenants sign longer-term leases for security of cashflow.