Oatley Research Factsheet 2nd Half 2017
The Oatley property market recorded a median house price of $1,377,500 and $694,000 for units in Q3 2017, representing an annual price change of 14.8% and 15.7% respectively. Over the same period of time house prices in the Georges River LGA grew by 2.7% to $1,355,000 and unit prices grew by 8.6% to $695,000. Oatley proves to be a premium market in comparison to the wider LGA, matched by a higher capital growth for owners and investors.
The Oatley property market recorded a median house price of $1,377,500 and $694,000 for units in Q3 2017, representing an annual price change of 14.8% and 15.7% respectively. Over the same period of time house prices in the Georges River LGA grew by 2.7% to $1,355,000 and unit prices grew by 8.6% to $695,000. Oatley proves to be a premium market in comparison to the wider LGA, matched by a higher capital growth for owners and investors.
Median rents in Oatley have increased over the past 12 months to Q3 2017 for both houses (by 5.4% to $643 per week) and units (by 6.5% to $458 per week). Vacancy rates in Oatley continue to decline, at 1.3% in September 2017. This is well below Sydney’s 2.1%, suggesting a higher rental demand - and thus more conducive environment or investment – in Oatley.
Oatley is set to see approx. $153.3M of new projects in 2016 - 2017. Mixed use accounted for the majority of project value (83.2%), totaling an estimated $127.6M. This is followed by residential projects, at approx. $17.2M (11.2%). A strong focus in increasing property supply is evident in Oatley, to answer market demand. Infrastructure projects make up $2.9M, or 1.9%, of total development whilst commercial projects accounted for $2.6M or 1.7%. This will improve liveability within the area for current and future residents, as well as foster local job growth.
A significant mixed use development is the Woniora Rd Mixed Development – Grandh, located in Hurstville Grove. This will add 383 apartments to the market, as well as 2 commercial spaces. This project is currently in construction, with a scheduled completion date in late 2018.
Over 2016-2017 Oatley plans to add 7 dwellings, 460 units / apartments, and 9 townhouses; spread over 11 residential projects and 3 mixed-use development.