Oatley Property Factsheet 1st Half 2018
The Oatley house market has grown by 4.4% over the past 12 months (Q1 2017-Q1 2018), recording a median price of $1,487,600 in Q1 2018. The unit market has grown at a more impressive rate of 13.9% over the same time frame, recording a median price of $706,000 in Q1 2018.
Average vendor discount for units in Oatley have swung to becoming a seller’s market, from -2.0% in Q1 2017 to 0.2% in Q1 2018. Sellers need to act now and ensure they reap the benefits of a hot market. Average vendor discount for houses remains in the seller’s favor, at 1.0% in Q1 2018. That said this is a smaller level of advantage to the seller, as 12 months ago in Q1 2017 sellers were able to benefit from a 2.5% vendor discount. Thus now is the time for sellers and buyers to transact – sellers can benefit from positive capital growth whilst buyers can benefit from increasing affordability.
Oatley is a premium market when compared to the Georges River Council LGA – both from an entry price point and capital growth perspectives. That said when compared to previous growth of 14.8% for house and 15.7% for units recorded in the 2nd half 2017 research report, it suggests that whilst Oatley maintains being profitable for capital growth it is also returning to a more sustainable level for future growth; which allows for some affordability to first home buyers.
Rental demand in Oatley has increased for both house and units over the past 12 months to Q1 2018, at 6.4% (houses) and 14.0% (units). Meanwhile median rent price for both property types has remained stable during the same time frame, which when coupled with a low vacancy rate of 1.5% suggest investors need not worry over fears of oversupply in the market.