Sanctuary Point Property Factsheet 2Nd Half 2017 OVERVIEW OVERVIEW Kogarah Is Located 14Km South of the Sydney CBD
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Nundah 2nd Half 2017 final.pdf 1 27/07/2017 2:20 PM C M Y CM MY CY CMY K Sanctuary Point Property Factsheet 2nd Half 2017 OVERVIEW OVERVIEW Kogarah is located 14km south of the Sydney CBD. This welcoming area is well known for its sporting history, OVERVIEWOVERVIEW OVERVIEWpicturesque parks and foreshore, family- *IMAGE* SanctuaryOVERVIEWoriented Point islifestyle located and approx. diverse 200km fromdemographics Sydney. The and area cultures. is home to predominatelyKogarah is located elderly 14km couples south and of thewell 6.5cm HIGH establishedSydney CBD. families This welcoming seeking a relaxedarea is Half Change from Last Year lifestyle.well known With for picturesque its sporting views history, and Year 10.6cm WIDE beaches,picturesque Sanctuary parks and Point foreshore, is the perfect family - *IMAGE* placeoriented forHouse yourlifestyle holidaysales and diversehome. demographics and cultures. Half Change from Last Year House median Year 6.5cm HIGH Half Change from Last Year House Sales Year 10.6cm WIDE House rents House sales House Median Price Unit sales MARKET CONDITIONS HouseHouse Rentalmedian Price Unit median The Kogarah* property market witnessed a record-setting median house price House rents of $1,415,000 and $663,000 for units in Q1 2017, resulting in exceptional Unit Sales MARKET CONDITIONS Unit rents Theannual Sanctuary growth Point* figures market of 20.4% recorded and a 9.6% median respectively. price of $447,500 In comparison, for houses UnitUnit Median sales Price housesin the andGeorges $427,722 River for Council units, representing area grew bya respective 15.2% to price$1,425,000 change andof units by 1.7%MARKET14.1% and to 23.5% $738,000. between CONDITIONS Kogarah* the past presents 12 months a uniqueto Q2 2017. opportunity, Dwelling whereby prices in their FUTURE DEVELOPMENTS** UnitUnit Rental median Price theThehouse area* Kogarah* price sit slightly point property belowclosely market the mirrors Shoalhaven witnessed that of aCity recordthe Council greater-setting median LGA median area price house however of price with Kogarah* is set to see approx. $511,000ofthe $1,415,000 potential for houses, andof stronger $663,000 but sits capital forabove units growth. the in medianQ1 Combined2017, price resulting of with units in record ($372,722).exceptional-setting median Unit rents$139.9M** of new projects commencing Thisannualprices indicates growthand positive that figures the growth Sanctuaryof 20.4% trend, and Point* 9.6%Kogarah* market respectively. hasis a ansought emergingIn comparison, after premiummarket houses by buyers FUTURE. in the DEVELOPMENTS** area. Mixed use development unitin the market Georges compared River Councilto the wider area councilgrew by region, 15.2% however to $1,425,000 offers anda more units by The Sanctuaryaccounted Point for area* the ismajority set to see of estimated affordable entry point for those seeking to purchase a house in the area. FUTURE DEVELOPMENTS** 14.1%Average to $738,000. days to sell Kogarah* in Kogarah* presents have a unique improved opportunity, over the whereby past 12 their months, an approx.value $33.3M at $102.5M** of projects (73.3%), commence followed by house price point closely mirrors that of the greater LGA area however with nd decreasing to 49 for houses and 42 for units in Q1 2017. A strong trend has throughoutKogarah*residential is the set 2 to half seeprojects, ofapprox. 2017. which accounted for Averagetheemerged potential days for of on house stronger market vendor capitalfor houses discounting, growth. and Combinedunits pivoting in Q2 with 2017 to record7.2% saw above-asetting significant the median listing Commercial$139.9M** of developments new projects accountedcommencing for decline from the same period in the previous annum, now situated at 57 and approx. $20.0M** (14.3%), commercial pricesprice and positiveindicating growth a sellers’ trend, market.Kogarah* Units is a soughtare following after market a similar by buyers trend,. thein thevast area. majority Mixed of useprojects development over the 30 days respectively. Average vendor discounts for houses remained in the projects which contributed $13.5M** however slightly lower, sitting at 0.8%. This signifies that the Kogarah* periodaccounted totaling for $23.6Mthe majority (70.9%). of estimated buyer’s favour at -2.2%, indicating that sellers are willing to negotiate below (9.6%), and lastly infrastructure Average days to sell in Kogarah* have improved over the past 12 months, Infrastructurevalue at $102.5M** projects (73.3%), account followed for $7.4M by theirproperty first asking market price has to been sell house skewed properties. significantly Interestingly, towards the a sellers unit market market. contributing $3.9M** (2.8%). decreasingBuyers are to increasingly 49 for houses willing and 42 to forpay units more in Q1to secure2017. A the strong ideal trend properties, has (22.2%),residential followed projects, by whichmixed accounteduse projects for hasemerged dramatically for house pivoted vendor into discounting, the seller’s pivotingfavour at to an 7.2% average above discount the listing of totaling $1.8M (5.4%) and residential 1.2%,showing indicating the high that level buyers of aredemand willing and to offer competition more than present the first within list price. the market.approx.Currently $20.0M** the(14.3%), largest commercial development price and indicating a sellers’ market. Units are following a similar trend, projectsprojects totaling which contributed $0.5M (1.5%). $13.5M** however slightly lower, sitting at 0.8%. This signifies that the Kogarah* underway is the Kogarah RSL Club MedianMedian rents rents in thehave Sanctuary remained Point relatively area* havestable, seen whereby a stable houses increase have for (9.6%), and lastly infrastructure property market has been skewed significantly towards a sellers market. A main projectmixed developmentcommencing is ($83.0M**). the Naval The houseswitnessed over athe slight past increase12 months in to median Q2 2017, rent situated to $635 at and$365 units per week.softening slightlycontributing $3.9M** (2.8%). Buyers are increasingly willing to pay more to secure the ideal properties, College constructionRd Serviced Apartmentsof two 11 storey and buildings Unitsto $480 however, over thesaw pasta significant 12 months. increase Astute in rent investors by 11.6% however to $360 are per still benefiting will add a total of 220 apartments to the showing the high level of demand and competition present within the market. Hotel,Currently which the has largest an estimated development week.from Vacancylow vacancy rates rates currently of 1.2% sit at and2.0%, healthy indicating rental a slight yields increase of 2.5% over for housesconstruction Kogarah* value unitof $20.0M. market The as wellproject as underway is the Kogarah RSL Club theand annum. 3.8% Thatfor units. said, astute investors are benefitting from rental yields of will help drive tourism in the local area Median rents have remained relatively stable, whereby houses have mixed developmentconstruction ($83.0M**).of additional The retail facilities 4.2% (houses) and 4.5% (units). with 180 serviced apartments and 120 witnessed a slight increase in median rent to $635 and units softening slightly constructionsuch asof two an RSL11 storey club buildingsdevelopment. hotel suites. The project is anticipated to SHOALHAVENtoGEORGES $480 over the past 12 RIVER CITYmonths. COUNCILAstute COUNCIL investors howeverGROWTH GROWTHare still benefiting will add a total of 220 apartments to the commence in November 2017. st from low400 vacancy rates of 1.2% and healthy rental yields of 2.5% for$1,500,000 houses Kogarah*The unit main market residential as well asprojects for 1 half and800 3.8% for units. $600,000 2017 include the Forest Road residential Anotherconstruction key commercial of additional development retail facilities is $500,000 development ($6.8M**), which will add 6 300 thesuch Inasmuch as an RSL Retirement club development. Village. An 600 townhouses and 1 dwelling; as well as GEORGES RIVER COUNCIL GROWTH$400,000$1,000,000 additional aged care facility will aid in The mainthe residential Bembridge projectsStreet for apartments 1st half 400400200 $300,000$1,500,000 facilitating supply to the predominant retiree2017 includedemographic($5.8M**) the Forest which in the Roadwill area. add residential 23 apartments $200,000$500,000Median Price to the market. The focus on mixed use developmentMedian Price Heading ($6.8M**), which will add 6 200300100 *Sanctuary Point market data and key indicators encapsulates aggregate Number of Sales townhousesand residential and 1 dwelling; projects as well reflects as the high Number of Sales $100,000$1,000,000 property marketHeading conditions in the following suburbs: Sanctuary Point, St Georgesthe Basin, Bembridge interestOld Erowal Bay, Streetand Worrowing demand apartments Heights, withinBasin View, the Bewong, area. 2000 0 $0 $0 Erowal Bay, Wrights Beach, Bream Beach, Hyams Beach, Vincentia, Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Huskisson,($5.8M**) Woollamia,*Kogarah which Falls Development Creek, will Tomerong, addfigures 23encapsulate Wandandian apartments aggregate & Sussex development market Q4 Q1 Q2 Q3 Q4 Q1$500,000 Inlet.to the market.conditions for Thethe following focus suburbs: on Kogarah,mixed Rockdale, use Carlton, Beverley Park, 100 2015 2016 2016 2016 2016 2017 Median Price **Estimated valuesHeadingBexley, are Monterey, based on Kogarahconstruction Bay .value provided by the House