Ingleburn Property Market Update 2nd Half of 2020
In Q2 2020, Ingleburn recorded a median house price of $679,750, and a median unit price of $442,500. This represents annual (Q2 2019 – Q2 2020) median price growth of 6.2% for houses and of 6.6% for units. Between Q2 2019 – Q2 2020 total house sales slowed by -36.4% to 147 sales, while units increased by 9.8% to 67 sales. Price growth in Ingleburn indicate resilience in property value amidst COVID-19, as does the increase in unit sales. With price growth occurring and limited competition, now is the time to transact.
Average vendor discounts between Q2 2019 and Q2 2020 have tightened for both property types, to -5.0% for houses and -6.2% for units. Market conditions in Ingleburn provide unique opportunities. Sellers can achieve final sale prices closer to their first list price, and buyers can benefit from a discount.
Over the past 12 months, house rental yields in Ingleburn decreased slightly to sit at 3.4% in June 2020. The house rental market remains in a healthy position, as the number of average days on the rental market has declined by -24.4% (to 23 days) in the 12 months to Q2 2020. Rental yields in Ingleburn for both house and units are well above Sydney Metro’s establishing the area as a more viable option for investment.
4+ bedroom houses have provided investors with +3.8% rental growth annually, at a median rent of $550 per week.
Ingleburn recorded an extremely low vacancy rate of 1.4% in June 2020. This represents a declining trend since June 2019, and an even more dramatic decline since December 2019. This is unexpected amidst COVID-19 conditions, which confirms there is a healthy rental demand. Furthermore, Ingleburn’s vacancy rate is well below Sydney Metro’s 3.8%.