Oyster Bay Property Insights - Oct 2024
Oyster Bay, NSW 2225: A Tranquil Suburb with Strong Property Value
Located just 19 km south of Sydney's central business district, Oyster Bay offers a serene and family-friendly atmosphere. This suburb spans approximately 3.1 square kilometers and has a modest population of 5,490 residents, reflecting a slow but steady population growth of 1.2% over the last five years.
Housing Market Trends
The housing market in Oyster Bay remains competitive, with the median house price sitting at $1.85 million as of October 2024. The suburb has seen 62 houses listed for sale in the past 12 months, with prices ranging widely depending on location and property type. The upper quartile price for houses is $2.29 million, while the lower quartile is $1.56 million, showing Oyster Bay’s appeal to a range of buyers.
Houses in Oyster Bay tend to stay on the market for an average period of time, with 24 currently listed, and the typical length of homeownership is 15 years, indicating a stable and established community.
Unit Market Trends
The unit market in Oyster Bay is more limited, but still offers solid opportunities. The median price for units is $1.25 million, with the upper quartile reaching $1.35 million and the lower quartile around $1.12 million. Despite the smaller market size, there is growing demand for units, particularly from those looking for affordable alternatives to houses in the area.
Oyster Bay Property
Rental Market
Rental properties in Oyster Bay are in high demand. The median asking rent for houses is $590 to $1,150 per week, depending on the size and location of the property. Rental yields are steady, making the suburb an attractive option for investors seeking stable returns.
Units in Oyster Bay are less frequently available for rent, and as of October 2024, there are no current listings for 1, 2, or 3-bedroom units in the suburb. This suggests limited supply and strong demand, particularly for affordable rental properties.
Recent Market Activity
The suburb has seen some notable sales in recent months. For example, a property on Juvenis Avenue sold for $2.73 million in August 2024, while another on Phillip Street fetched $1.45 million in October. These transactions highlight the range of property values in the area, with premium homes commanding significant prices.
Community and Lifestyle
Oyster Bay is primarily home to couples with children, who benefit from the suburb’s abundance of parks, schools, and easy access to the Georges River. The predominant age group is 40-49 years, and most residents work in professional occupations, making the area an ideal choice for established families.
Investment Potential
With its combination of strong property values, consistent rental demand, and appealing lifestyle, Oyster Bay remains an attractive location for both homebuyers and investors. The suburb offers a mix of mid- to high-range properties, making it a stable and desirable market in Sydney’s southern suburbs.