Oatley a suburb great for both owner-occupiers and investors: HTW residential
Oatley is a quiet, well-regarded suburb in the St George area, positioned on the northern foreshores of the Georges River, just to the south-west of Hurstville, and approximately 18 kilometres south of the CBD according to a recent Herron Todd White (HTW) residential report.
The report notes it benefits from a train station on the Illawarra line, a popular shopping strip and bus services, along with close proximity to the major shopping precinct at Hurstville. All these attributes make Oatley a suburb great for families and popular for both owner- occupiers and investors.
The median house price for Oatley in 2018 was $1.65 million, while the median unit price was $805,000, according to CoreLogic data.
A sale just above that median price was of 26 Douglas Haig Street (pictured in title), which sold in November for $1.821 million. The property comprised an updated, 1960s, single storey brick home with three bedrooms, two bathrooms, garage, carport and inground pool on 697 square metres of land.
"Oatley is a suburb of extremes when it comes to property prices, with large waterfront homes achieving $3 million-plus and in some cases $4 million-plus, while at the other end of the scale, there are a number of unit complexes which provide opportunities for first home buyers and investors," says the valuation firm.
Entry level for an original 1960s two bedroom, one bathroom unit with one car garage is between $650,000 and $700,000, with most of these complexes located within close proximity to the railway station and shops.
At the entry level for houses, 9 Boundary Street (pictured below) sold in November for $900,000. The sale provided a small 1960s, single level, weatherboard home with three bedrooms and two bathrooms in updated condition with carport and above ground pool.
The compromise here however was a smaller than average block of land at 487 square metres and being located on a busy local thoroughfare and further from the railway station and shopping precinct.
"This type of property can provide a good opportunity in a declining market as prices for properties with secondary attributes often see the largest declines. Whilst that makes these types of properties slightly riskier, they are still a good option if they are located in a popular suburb such as Oatley," concluded the report.