Maroubra Property Market Update 2nd Half of 2021

In Q3 2021, Maroubra recorded a median house price of $2,528,000, and a median unit price of $950,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 30.1% for houses and 14.4% for units. Between Q3 2020 – Q3 2021 total sales in both markets increased, by 11.2% for houses (to 129 sales) and by 34.1% for units (to 228 sales). Increased sales activity coupled with price growth indicates real returns on capital investment in Maroubra, currently evident in both house and unit markets. This makes now an ideal time for owners looking to benefit from a highly demanded market.

Average vendor house discount between Q3 2020 and Q3 2021 have swung to higher premium of 5.9% and swung to a premium of 1.2% for units. Maroubra market conditions have now shifted to favour vendors, where buyers are willing to negotiate above the initial listing price. Now is the time to for sellers to sell.

In September 2021, house rental yields in Maroubra were recorded at 2.7%. In the 12 months to Q3 2021, the median house rental price increased by 2.9% to reach $900 per week, while average days on the market slightly increased by 4.3% (to 24 days). Overall, this represents a resilient rental market throughout lockdowns and COVID-19.

2 bedroom houses have provided investors with +6.3% rental growth annually, with a median rent of $680 per week.

Also in September 2021, Maroubra recorded a vacancy rate of 1.8%, below that of Randwick LGA (2.5%) as well as Sydney Metro (2.7%). Vacancy rates in Maroubra are currently at 3 years historical low and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Maroubra.