Green Square Blog

Early signs of hope?

CoreLogic data indicated positive movements for unit markets in Alexandria and Rosebery over the most recent quarter.

Rosebery’s unit median grew by 3.4 per cent over the three months to reach $900,000, while Alexandria advanced 1.7 per cent to hit $755,000. It was back to back quarters of growth for Alexandria, making it the only Green Square suburb to achieve that feat for quite some time.

Over 12 months, Rosebery’s 255 sales saw it in the black by 0.6 per cent, while Alexandria’s median has risen 0.1 per cent over the year from 158 sales. Waterloo is down 4.7 per cent from 291 sales, while Zetland has fallen 3.4 per cent from 193 sales.

Beaconsfield fell by 17.6 per cent, but it is a tiny suburb and only registered seven unit sales, so medians are unreliable and prone to wild fluctuations.

Waterloo leads the way for gross rental yields with 4.7 per cent, while Zetland (4.5 per cent) and Alexandria (4.4 per cent) are right behind. Rosebery is offering 3.9 per cent.

As I always say, before getting carried away with data, remember there is a three month lag for CoreLogic figures, so anything you are reading about now was the actual state of the market back in April.

Working at the coalface, any signs of recovery are less convincing, so it will be interesting to see if that perceived positivity continues next quarter, or if it was a flash in the pan.

 

Published by Trevor Back

Principal, Raine & Horne Green Square

Phone: 0428 006 900

[email protected]

 

 

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