Dapto Property Market Update 2nd Half of 2021

In Q3 2021, Dapto recorded a median house price of $750,000, and a median unit price of $610,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 28.2% for houses and 24.2% for units. Between Q3 2020 – Q3 2021 total sales slowed for houses, by -24.0% (to 114 sales), and picked up by 150.0% for units (to 40 sales). The unit market shows real returns in capital investment in, as price growth is alongside higher sales; but the house market is undersupplied, as price growth is due to less sales. Overall, these trends suggest now is an ideal time to sell in Dapto.

Average vendor discounts between Q3 2020 and Q3 2021 have swung to a premium of 3.2% for houses and 0.8% for units. Market conditions in Dapto have trended to becoming a more sellers’ market since the beginning of 2021, where buyers are now willing to negotiate above the initial listing price.

In September 2021, house rental yields in Dapto were recorded at 3.3%. In the 12 months to Q3 2021, the median house rental price increased by 12.2% to reach $550 per week, while average days on the market to let declined by -26.3% (to 14 days). Low rental supply and increased demand has seen rental prices increase and the time to fill a new tenant decrease.

4+ bedroom houses have provided investors with +7.1% rental growth annually, with a median rent of $600 per week.

Also in September 2021, Dapto recorded a vacancy rate of 0.3%, just below that of Wollongong LGA (0.4%) and well below Sydney Metro (2.7%). Vacancy rates in Dapto have continued to trend downwards since December 2019 and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, despite recent lockdowns. This confirms there is healthy rental demand and investors can be confident of a conducive investment environment in Dapto.