Oatley Property Market Update 1st Half of 2021

In Q1 2021, Oatley recorded a median house price of $1,481,500, and a median unit price of $650,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 14.0% for houses and 2.4% for units. Between Q1 2020 – Q1 2021 total sales in both markets increased, by 11.5% for houses (to 87 sales) and by 13.6% for units (to 67 sales). Median price growth alongside increased sales suggests real returns on capital investment in Oatley. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have further widened in premium for houses, to 5.5%, and have swing to a premium of 0.1% for units. Market conditions in Oatley have now shifted to favour vendors, as buyers are willing to offer above first listed prices, particularly for houses. Now is the time to sell.

In March 2021, house rental yields in Oatley were recorded at 2.0%. In the 12 months to Q1 2021, the median house rental price has softened by -9.2% to sit at $590 per week, however average days on the market declined by -42.3% (to 17 days). Overall this is not an unexpected result given COVID-19’s impacts, yet encouraging that properties are rented quicker.

4+ bedroom houses have provided investors with +6.9% rental growth annually, achieving a median rent of $770 per week.

Also in March 2021, Oatley recorded a vacancy rate of 2.9%, well below Georges River LGA (4.4%) and Sydney Metro (3.4%). Despite an upward trend in vacancy rates in Oatley in the past 12 months there has been a recent decline, since January 2021. This puts the vacancy rate just below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. This suggest a rental market recovery, with rental demand improving, amidst COVID-19 conditions.