Sylvania Waters Property Insights - June 2024
Overview: Sylvania Waters, NSW, is a 1.3 square kilometre suburb with 4 parks covering nearly 9.4% of its area. As of the 2016 census, it had a population of 3,170, showing a slight increase from 2011. The predominant age group is 10-19 years, and households are primarily couples with children, with most people working in managerial occupations. The area has a high rate of homeownership, with 81.7% of homes being owner-occupied in 2016.
Housing Market Trends:
Houses:
Median Sales Price: $3,000,000
Properties Sold (Last 12 months): 41
Median Asking Rent: $1,400 per week
Average Tenure Period: 14.1 years
Days on Market: 53
Units:
Median Sales Price: $747,500
Properties Sold (Last 12 months): 14
Median Asking Rent: $625 per week
Average Tenure Period: 14.6 years
Days on Market: 14.5
Land:
Median Sales Price: N/A
Properties Sold (Last 12 months): 1
Price Quartiles for Houses:
Upper Quartile: $4,600,000
Median: $3,000,000
Lower Quartile: $2,075,000
Price Quartiles for Units:
Upper Quartile: $783,750
Median: $747,500
Lower Quartile: $670,000
Sales and Value Trends:
The median house value as of May 2024 is $2.13 million, showing a 5.9% increase from the previous year.
The median unit value as of May 2024 is $843,410, reflecting a 0.3% increase from the previous year.
Household Structure:
Couples with Children: 54.8%
Childless Couples: 29.9%
Single Parents: 14.3%
Population Age Distribution:
10-19 years: 14.3% (largest age group)
40-49 years: 14.2%
20-29 years: 11.9%
50-59 years: 13.8%
Household Income:
$182K+ per year: 18.7%
$130-182K per year: 13.5%
$78-130K per year: 21.3%
Rental Yields:
Houses: 2.6%
Units: 4.2%
Notable Changes:
House Market: The number of houses sold remained stable, with 41 properties sold in the past 12 months.
Unit Market: The median value saw a slight increase, maintaining stability with moderate increases in rent prices.