Request An Appraisal
PRD  →  Research Hub  →  Macquarie Park Property Market Update 2nd Half of 2021

Macquarie Park Property Market Update 2nd Half of 2021

In Q2 2021, Macquarie Park (which throughout this report includes Macquarie Park, North Ryde, Epping, West Ryde, and Eastwood) recorded a median house price of $2,100,000 and a median unit price of $876,500. This is an annual (Q2 2020 – Q2 2021) median price growth of 23.5% for houses and 6.4% for units. Between Q2 2020 – Q2 2021 total sales increased, by 103.1% for houses (to 197 sales) and by 83.3% for units (to 363 sales). With median price growth and an increase in the number of sales there is real returns in investment. Macquarie Park presents an opportunity for owner-occupiers.

In Q2 2021, Macquarie Park (which throughout this report includes Macquarie Park, North Ryde, Epping, West Ryde, and Eastwood) recorded a median house price of $2,100,000 and a median unit price of $876,500. This is an annual (Q2 2020 – Q2 2021) median price growth of 23.5% for houses and 6.4% for units. Between Q2 2020 – Q2 2021 total sales increased, by 103.1% for houses (to 197 sales) and by 83.3% for units (to 363 sales). With median price growth and an increase in the number of sales there is real returns in investment. Macquarie Park presents an opportunity for owner-occupiers.

Average vendor discounts between Q2 2020 and Q2 2021 have extraordinarily swung to a premium of 10.5% for houses and tightened to -0.7% for units. Market conditions in Macquarie Park have shifted to favour vendors, where buyers must offer large premiums above the initial listed prices for houses. Yet there is still opportunity in the unit market for a slight discount. 

In June 2021, house rental yields in Macquarie Park were recorded at 2.2%. In the 12 months to Q2 2021, the median house rental price has slightly softened to sit at $630 per week, however average days on the market declined by -16.1% (to 26 days). This is reflective of COVID-19’s impact on the property market.

3 bedroom houses have provided investors with +3.7% rental growth annually, with a median rent of $620 per week.

Also in June 2021, Macquarie Park recorded a vacancy rate of 7.3%, above that of Ryde LGA (3.8%) and Sydney Metro (2.8%). Vacancy rates in Macquarie Park also sit above the Real Estate Institute of Australia’s healthy benchmark of 3.0%, though the market has been recovering since its peak in January 2020. This downward trend highlights the future potential of Macquarie Park, while also prompting current investors to have tenants sign longer-term leases for security of cashflow.

Popular

Latest