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Liverpool Property Market Update 1st Half of 2022

In Q1 2022, Liverpool recorded a median house price of $990,000, and a median unit price of $515,000. This represents annual (Q1 2021 – Q1 2022) median price growth of 28.6% for houses and a slight softening of -1.0% for units. Between Q1 2021 – Q1 2022 total sales decreased, by -28.6.0% (to 543 sales) for houses and by -33.2% (to 215 sales) for units. Q1 2022 recorded the lowest house sales volumes since 2020, indicating an undersupply. This has resulted in double digit median price growth, thus an ideal time for owners to transact. The unit market has slightly softened, thus an opportunity for buyers.

Average vendor discounts between Q1 2021 – Q1 2022 have remained relatively stable for both property types, at -0.6% for houses and -4.4% for units. Despite a brief swing to premium pricing for houses in Q2 2021, to 1.1% above the first list price, the past 6 months saw a return to a more sustainable dynamic of negotiations between sellers and buyers.

In March 2022, house rental yields in Liverpool were recorded at 2.5%. In the 12 months to Q1 2022, median house rental price increased significantly by 11.5% to reach $580per week, despite a 3.0% increase (to 861) in the number of houses rented. Average days on the market declined by -4.2% to 23 days during this time, indicating a demanded rental market. 4+ bedroom houses have provided investors with +5.0% rental growth annually, with a median rent of $630 per week.

Also in March 2022, Liverpool recorded a vacancy rate of 1.8%, above that of Liverpool LGA (1.2%) and Sydney Metro (1.6%); potentially due to the number of properties that finished construction in the past 12 months. That said vacancy rates in Liverpool remained below the Real Estate Institute of Australia’s healthy benchmark of 3.0% since the past 6 months. There is an increasing rental demand and investors can be confident of a conducive investment environment in Liverpool.

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