Oatley Property Market Update 2nd Half of 2021

In Q3 2021, Oatley recorded a median house price of $1,846,000, and a median unit price of $630,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 41.7% for houses and neutral growth for units (0.0%). Between Q3 2020 – Q3 2021 total sales in both markets increased, by 16.5% for houses (to 99 sales) and by 21.6% for units (to 90 sales). Strong price growth coupled with increased sales volume indicates real returns on capital investment, more so prevalent in the Oatley housing market. Now is an ideal time for owners and down-sizers to transact in Oatley.

Average vendor discounts between Q3 2020 and Q3 2021 continued to swing towards a higher premium for houses, to 7.2%. Unit average vendor discount have tightened to 1.8%. Buyers in Oatley must now either offer higher than the first list price (houses) or closer to first list price (units).

In September 2021, house rental yields in Oatley were recorded at 2.5%. In the 12 months to Q3 2021, the median house rental price increased by 2.6% to reach $600 per week, further complemented by a decline in average days on the market, of -9.5% (to 19 days). Overall, this represents a resilient rental market throughout COVID-19 lockdowns in 2021.

2 bedroom houses have provided investors with +6.7% rental growth annually, with a median rent of $480 per week.

Also in September 2021, Oatley recorded a vacancy rate of 1.7%, below that of Georges River LGA (3.1%) but slightly above Sydney Metro (2.7%). Vacancy rates in Oatley is currently at one of the lowest points in the past 3 years and have remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. There is a healthy rental demand and investors can be confident of a conducive investment environment in Oatley.