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PRD Real Estate Morisset  →  Research Hub  →  Postcodes 2264 and 2265 Property Factsheet 1st Half of 2019

Postcodes 2264 and 2265 Property Factsheet 1st Half of 2019

The property market in postcodes 2264 and 2265 recorded a median house price of $545,000 in Q4 2018. This reflected an annual (Q4 2017 – Q4 2018) median price softening of -5.2%. On the other hand, the median unit price strengthened during this timeframe, by 1.7% to $390,000. By comparison the Postcodes 2264 and 2265 2nd half 2018 Research Factsheet reported a 6.4% median price growth for house and 8.2% for units between Q3 2017-Q3 2018. This suggests properties in postcodes 2264 and 2265 is now more affordable

The property market in postcodes 2264 and 2265 recorded a median house price of $545,000 in Q4 2018. This reflected an annual (Q4 2017 – Q4 2018) median price softening of -5.2%. On the other hand, the median unit price strengthened during this timeframe, by 1.7% to $390,000. By comparison the Postcodes 2264 and 2265 2nd half 2018 Research Factsheet reported a 6.4% median price growth for house and 8.2% for units between Q3 2017-Q3 2018. This suggests properties in postcodes 2264 and 2265 is now more affordable

Average vendor discounting between Q4 2017 and Q4 2018 has widened from -4.3% to -6.4% for houses and from -2.2% to -11.9% for units. Now is the time to transact in the market. Buyers can benefit from higher discounts, unit sellers can capitalise on current positive median price growth, and house sellers can minimise risks.

Median house rental prices in postcodes 2264 and 2265 has experienced a softening of -6.8% between Q4 2017-Q4 2018, to $410 per week. Median unit rents also softened, by -4.5% to $320 per week. Investors are benefitting from a resilient rental uptake however, as vacancy rates are on a declining trend and recording 2.6% as of December 2018. This suggests that despite a softening in median rent prices, properties are rented quicker, securing cash flow for investors. Furthermore, rental yields in postcode 2264 and 2265* (3.5% house: 5.3% unit) are well above Sydney Metro (2.9% house; 3.8% Units). 

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