Ingleburn PRD Market Update 1st Half of 2020
In Q4 2019, Ingleburn recorded a median house price of $660,000 and a median unit price of $440,000. This represents annual (Q4 2018 – Q4 2019) median price growth of 1.9% for houses and 1.4% for units. At the same time, total sales in both markets improved for Q4 2019, by 13.7% for houses to 240 sales and by 7.0% for units to 76 sales. The Ingleburn market is recovering, with an increase in demand and capital growth for both property types. Now is the time to transact in Ingleburn, before prices become unaffordable.
Average vendor discounts between Q4 2018 and Q4 2019 tightened to -4.6% for houses and -4.4% for units. Market conditions in Ingleburn is shifting towards favouring sellers, with buyers willing to offer closer to the initial listing price. That said there are still some discounts, which buyers need to capitalise on.
Over the past 12 months, house rental yields in Ingleburn slightly softened to sit at 3.1% in December 2019. This occurred in line with a softening in demand, with total house rented declining by -17.6% (to 624 rentals) in the 12 months to Q4 2019. This is still a high volume of rentals overall, suggesting it will continue to play a major role in Ingleburn.
4+ bedroom houses provided investors with the best rental growth annually, achieving a median rent of $530 per week.
Ingleburn recorded a vacancy rate of 3.1% in December 2019, which is in a lower position compared to Sydney Metro’s 3.6%. Furthermore this represents a declining trend in vacancy rate over the past 12 months to December 2019, which should build investor confidence as it shows there is a healthier rental demand in Ingleburn.