Kogarah Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2025, Kogarah* recorded a median house price of $1,865,000 and a median unit price of $720,000. This represents annual (Q1 2024 – Q1 2025) growth of 14.6% for houses and 1.8% for units. Comparing Q1 2024 and Q1 2025, total sales declined by -5.0% (to 76 sales in Q1 2025) for houses and grew by 2.6% (to 275 sales to Q1 2025) for units. There is an undersupply in the house market, whilst the unit market is highly demanded. Combined, this created a buffer against higher interest rates (hence price growth). The increase in unit sales combined with price growth is due to low house stock, as buyers pivot from looking for a house to a unit. This suggests that now is an ideal time for owners to capitalise on their investments.
CHANGE FROM LAST
YEAR
Kogarah£ will see approximately $258.8M of new projects commencing construction in 2025. Commercial $28.8M
Residential
HALF YEAR
$57.5M
HOUSE SALE S HOUSE ME DIAN PRICE
Mixed-Use
HOUSE RE NTAL PRICE
Projects $171.3M
UNIT SALE S Residential & Mixed-Use projects set to commence in 2025 include:
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
•
588-592 Princes Highway Units & Commercial (129 Units)
•
The Rise Kogarah Mixed Use Development (47 Apartments)
•
MARKET CONDITIONS
13-21 Wyuna Street Residential Development (64 Units)
•
16-22A Gladstone & Victoria Streets Apartments (77 Apartments)
SALES
•
66a Caledonian Street (2 units)
$ MEDIAN PRICE Q1 2025
$1.9M
$720K
MEDIAN PRICE Q1 2025
$820
AVERAGE DAYS ON MARKET Q1 2025
48
70
HOUSE
U N I T
RENTALS
$670
AVERAGE DAYS ON MARKET Q1 2025
22
20
HOUSE
U N I T
All residential and mixed-use projects in the pipeline plan to deliver units to Kogarah. This helps with some of the current demand, but not all. There are no new stand-alone houses planned for 2025, which suggests that the current undersupply will continue. This will push prices up even further for the remainder of 2025, not only for houses but for all stock types.
506 Units/ Apartments