Oatley Property Market Update 2nd Half of 2020

In Q3 2020, Oatley recorded a median house price of $1,303,000, and a median unit price of $654,250. This represents annual (Q3 2019 – Q3 2020) median price growth of 4.2% for houses and of 10.0% for units. Between Q3 2019 – Q3 2020 total sales softened, down by -22.6% for houses (to 72 sales) and by -7.4% for units (to 63 sales), potentially due to low stock in the market. Median price growth suggests market resilience, in contrast to general COVID-19 predictions. With limited competing stock in the market and prices rising, now is the time to sell in Oatley.

Average vendor discounts between Q3 2019 and Q3 2020 have swung to a premium of 3.3% for houses and tightened to -2.9% for units. House market conditions in Oatley have now shifted to favour vendors, as buyers are willing to offer able the initial listing price. This makes now the time to sell.

In September 2020, house rental yields in Oatley were recorded at 4.7%. In the 12 months to Q3 2020, the median house rental price has increased to $585 per week, while average days on the market declined by -20.7% (to 23 days). Overall, this represents a resilient rental market throughout COVID-19.

4+ bedroom houses have provided investors with +12.0% rental growth annually, with a median rent of $840 per week.

Also, in September 2020, Oatley recorded a vacancy rate of 2.9%, below that of Georges River LGA and Sydney Metro (both 3.5%). Vacancy rates in Oatley also sit below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. This confirms there is still a healthy rental demand, meaning that investors can be confident of a conducive investment environment in Oatley.