Oatley & Surrounds Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
Postcode 2223, (which for this report include suburbs: Oatley, Mortdale, Hurstville Grove, Penhurst, Lugarno and Peakhurst Heights) recorded a median house price of $2,022,500 and unit price of $780,000 in Q1 2025. This is an annual (Q1 2024 – Q1 2025) price growth of 3.7% for houses and 7.1% for units. Comparing Q1 2024 and Q1 2025, sales declined by -1.2% (to 82 sales in Q1 2025) for houses, but increased by 30.2% (to 56 sales to Q1 2025) for units. This confirms there is an undersupply of houses and a highly demanded market for units; which created a buffer against higher interest rates and underpinned continuous price growth. Now is an ideal time for owners to capitalise on their investments.
CHANGE FROM LAST
YEAR
Postcode 2223 -Oatley & Mortdale£ will see approximately $42.7M of new projects commencing construction between2024-2026. Commercial $6.3M Residential Industrial $8.9M $2.2M
HALF YEAR
HOUSE SALE S Mixed-Use
HOUSE ME DIAN PRICE
Projects $25.4M
HOUSE RE NTAL PRICE
UNIT SALE S
Residential and mixed-use projects set to commence construction in postcode 2223* in 2024 and 2026 include:
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q1 2025
$2.0M
$780K
MEDIAN PRICE Q1 2025
$900
SALES
AVERAGE DAYS ON MARKET Q1 2025
44
49
HOUSE
U N I T
RENTALS
$600
•
95-99 Railway Parade Units & Commercial Tenancies (28 Units)
•
50 Rosa Street (5 Townhouses)
•
26 Martin Place Units (5 Units)
•
18A Letita Street (2 Dwellings)
Most of the residential projects in the pipeline for postcode 2223 £ plan to deliver units. Whilst this assist with answering some market demand, it is not enough. There is still very little new stand-alone new houses planned; thus, the undersupply of houses will remain. Further, townhouses and units will take time to build. Thus, in the short term, this will push prices up further for the rest of 2025; for all stock types (not just house prices).
AVERAGE DAYS ON MARKET Q1 2025
23
20
HOUSE
U N I T
10 Townhouses
33 Units/ Apartments
3 Dwellings