Maroubra Property Market Update 1st Half of 2021

In Q1 2021, Maroubra recorded a median house price of $2,175,000, and a median unit price of $881,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 14.5% for houses and a slight price softening of -2.0% for units. Between Q1 2020 – Q1 2021 house sales increased by 20.3% (to 95 sales), while unit sales slowed by -8.8% (to 165 sales). With houses showing median price growth alongside increased sales activity, there is real returns in capital investment in Maroubra, thus an ideal time for owners looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have swung further to a premium of 3.8% for houses, and swung to a premium of 0.1% for units. Current market conditions in Maroubra have shifted to further favour vendors, as buyers are willing to offer above the initial listing price. Now is the time to sell.

In March 2021, house rental yields in Maroubra were recorded at 2.4%. In the 12 months to Q1 2021, the median house rental price has remained stable at $950 per week, while average days on the market declined by -22.1% (to 19 days). Overall this highlights Maroubra’s rental market resilience throughout COVID-19.

3 bedroom houses have provided investors stable rental returns annually, achieving a median rent of $850 per week.

Also in March 2021, Maroubra recorded a vacancy rate of 2.9%, below that of Randwick LGA (3.5%) and Sydney Metro (3.4%). Vacancy rates in Maroubra have been on a declining trend since December 2020, and now sit below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. This confirms there is an increasingly healthier rental demand, meaning investors can be confident of a conducive investment environment in Maroubra.