PRD Macquarie Park Market Update 1st Half of 2020
In Q4 2019, Macquarie Park* recorded a median house price of $1,685,000, and a median unit price of $865,000. This represents annual (Q4 2018 – Q4 2019) median price growth of 17.8% for houses and of 15.6% for units. At the same time, total sales in both markets grew for Q4 2019, up by 27.6% for houses to 134 sales and by 72.9% for units to 363 sales. With Macquarie Park* showing strong signs on all fronts, now is the time to enter the market.
Average vendor discounts between Q4 2019 and Q4 2019 have tightened for both property types, to -3.2% for units and to a premium of +3.8% for houses. Market conditions in Macquarie Park* have now shifted to favour vendors for houses, with buyers willing to offer above initial listing prices. Now is the time to sell.
Over the past 12 months, house rental yields in Macquarie Park increased to reach 2.8% in December 2019. This suggests the house rental market is in a healthy position, despite a slight softening in demand for house rentals in the area across the same time period (slowing -14.2% to 182 house rentals in the 12 months to Q4 2019).
2 bedroom houses have provided investors stable rental returns annually, achieving a median rent of $500 per week.
Ryde LGA recorded a vacancy rate of 5.5% in December 2019, which is a above Sydney Metro’s 3.8% average. Landlords of properties in the area may wish to sign tenants on longer leases for greater cashflow security.