Millers Point has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -15.63% to date .
Using the current median advertised rental of $1325 and the average annual increase in value of a median property of -5.09%, investors should hope to achieve an overall return of 3.40%
Over the last year, property investments in Millers Point, 2000 have given investors a capital gain of -33.75%. This compares very badly with the 8.31% for NSW as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Millers Point comes in at number 521th in NSW.
Property investors looking for a bargain in Millers Point should be aiming for at least -3.11% off the asking price, which is the average vendor discount being achieved at the moment.
At number 332 in a list of fastest selling suburbs, Millers Point is in the TOP 30% of suburbs in Australia with an average of days on market 50.13 for properties listed there.
Millers Point is 391th on a list of best yielding suburbs for rents in NSW with a 3.61% return