Roseville-Lindfield Market Update 1st Half of 2020
In Q4 2019, Roseville-Lindfield recorded a median house price of $2,484,000, and a median unit price of $890,000. This represents annual (Q4 2018 – Q4 2019) median price growth of 7.0% for houses and a slight softening of -2.7% for units. Between Q4 2018 – Q4 2019, total sales for houses saw a minor dip of -1.4% (to 71 sales), whilst units increased strongly by 39.3% (to 78 sales). Roseville-Lindfield continues to operate as a premium housing market, with limited supply pushing up prices, thus buyers must act quickly to secure stock.
Average vendor discounts between Q4 2018 and Q4 2019 tightened to -1.8% for units and swung to a premium of +1.1% for houses. House market conditions in Roseville-Lindfield have shifted to favour vendors, where buyers need to offer above the initial listing price Unit buyers can still enjoy a minor discount, making now a critical time to enter the market.
Over the past 12 months, house rental yields in Roseville-Lindfield increased slightly to 2.7% in December 2019, on-par with Sydney Metro. This suggests the house rental market is in a relatively healthy position, though a slowdown in the number of houses rented (-22.3% to 73 rentals in the 12 months to Q4 2019) also offers some reason for caution.
2 bedroom houses have provided investors with +3.4% rental growth annually, achieving a median rent of $600 per week.
Roseville-Lindfield recorded a vacancy rate of 6.0% in December 2019, decreasing from 7.6% in December 2018. This is good news for investors as vacancy rates are trending lower, providing assurance that properties are occupied quicker.