Oatley Property Market Update 2nd Half of 2019

In Q3 2019, Oatley recorded a median house price of $1,200,000, and a median unit price of $632,500. This represents annual (Q3 2018 – Q3 2019) median price softening of -7.9% for houses and growth of 7.2% for units. At the same time total house sales improved for Q3 2019, by 9.4% to 93 sales, whilst units slowed by -16.5% to 76 sales. Houses are more affordable for buyers, and there is a potential undersupply in units – good news for unit owners.

Average vendor discount between Q3 2018 and Q3 2019 have tightened for both property types, to -2.0% for houses and -3.1% for units. Market conditions in Oatley continue to favour buyers, where sellers are still willing to negotiate below their initial listing price. This said, available discounting is lessening, suggesting now is the time to enter the market.

Over the past 12 months, house rental yields in Oatley increased to reach 2.8% in June 2019, which is on-par with the Georges River LGA. This suggests the Oatley house rental market is in a relatively healthy position, as does the increased demand for rental properties across the same time period (up by 3.3% in the 12 months to Q3 2019).

4+ bedroom houses have provided investors with +1.7% rental growth annually, achieving a median rent of $783 per week.

Oatley recorded a vacancy rate of 3.0% in June 2019, which is a healthy position that is below the Sydney Metro’s 3.5% average. This confirms there is a healthier rental demand in Oatley, good news for investors.