Suburb Profile Report for Surry Hills NSW (2010)

Surry Hills House: Median price $1,670,000, Annual capital growth 9.98%, Number of sales 90, Weekly median advertised rent $875

Surry Hills Unit: Median price $777,000, Annual capital growth 8.07%, Number of sales 284, Weekly median advertised rent $600

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Surry Hills have tracked just higher than the NSW average of 7.47% over the last 12 months.

If we look at median property appreciation over just the last three months, Surry Hills has given property investors a paper return of 3.73%. This puts Suburb as 427 on a list of fastest fasting appreciating suburbs in NSW

LACK OF BUYER INTEREST may well be the reason that Surry Hills is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 1164th in terms of most discounted suburbs in NSW

Residents and property investors in Surry Hills have been waiting around 50.4 days to sell a property.

With the median price for a house in Surry Hills being $1670000 and the advertised rent reaching $875 the gross rental yield for property investors calculates out to be 2.72%

If you compare the increase in value of investment property in Surry Hills, 2010 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 0.91%.

Taking the average capital gain, or increase in median house value, Surry Hills,2010 has racked up an average of 0.91% over the period. This ranks it number 352th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Surry Hills 2010 should be seeing an average reduction in asking price of around -3.96% . This means that Surry Hills is holding prices well when compared to other suburbs in NSW.

In the last year 284 properties changed hands in Surry Hills, which puts it as the 30th most active market in NSW when comparing the number of sales per suburb.

With the median price for a house in Surry Hills being $777000 and the advertised rent reaching $600 the gross rental yield for property investors calculates out to be 4.02%

YIP MAG Information supplied by:

YIP MAG
March 2016

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Sydney’s answer to Melbourne’s cafes and restaurants district, Surry Hills is a trendy suburb experiencing a massive surge in values.Full summary
Sydney’s answer to Melbourne’s cafes and restaurants district, Surry Hills is a trendy suburb experiencing a massive surge in values.

Just 2km from the CBD, the suburb is teeming with cafes, bars and coffee shops.

It also boasts some of Sydney’s best nightlife.

Surry Hills is hip, young and one of the best places to find a small apartment.

Its proximity to the University of Sydney campus and Central Station (a short walk) makes it a highly sought after area to live in.

As such, demand from homebuyers and investors has been exceedingly strong during the past three years.

Since December 2012, median unit values have surged by a total of 33.3% to $753,000, according to OnTheHouse.com.au stats.

However, this strong growth is unlikely to continue due to affordability constraints.

OnTheHouse.com.au predicts no growth for units over the next eight years.
Close
Metrics i HOUSE UNIT
$1,670,000 $777,000
3.73% 2.91%
13.49% 0.91%
9.98% 8.07%
$875 $600
90 284
2.72% 4.02%
50.4 48.44

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Surry Hills NSW
Demographics
Total population 15342
Median household income ($/weekly) 1760
Median age of persons 33
Median housing loan repayment ($/monthly) 2500
Average household size 1.8
  • Census Count Percent(%)
    20-24 years 1428 9.3
    25-34 years 5664 36.9
    35-44 years 3033 19.8
    45-54 years 1770 11.5
    55-64 years 1110 7.2
    Others 2338 15.2
    Age Group
    Census Count Percent(%)
    Not Married 6602 56.8
    Defacto Relationship 2799 24.1
    Registered Married 2231 19.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 6873 52.0
    Croatia 497 3.8
    Papua New Guinea 594 4.5
    United Kingdom 1081 8.2
    Other 1327 10.0
    Others 2854 21.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 940 7.4
    Christianity 5467 43.1
    Islam 249 2.0
    Judaism 192 1.5
    No Religion 5581 44.0
    Others 267 2.1
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 432 6.8
    $1,500-$1,999 754 11.9
    $2,000-$2,499 449 7.1
    $2,500-$2,999 1038 16.4
    $4,000 or more 612 9.7
    Others 3048 48.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7126 56.6
    Not in the labour force 2744 21.8
    Employed, worked part-time 1887 15.0
    Unemployed, looking for work 471 3.7
    Employed, away from work 370 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1647 17.6
    Professionals 3902 41.6
    Technicians & trades workers 675 7.2
    Community & personal service workers 822 8.8
    Clerical & administrative workers 1108 11.8
    Others 1229 13.1
    Occupation
    Census Count Percent(%)
    Infants/Primary 187 7.7
    Secondary 164 6.7
    Technical or Further Educational Institution 433 17.8
    University or other Tertiary Institutions 1269 52.2
    Other type of educational institution 293 12.1
    Others 84 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 7895 62.9
    Semi-detached, row or terrace house, townhouse 4331 34.5
    Separate house 181 1.4
    House or flat attached to a shop, office 152 1.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 4312 63.5
    Being purchased 1633 24.0
    Fully owned 794 11.7
    Other tenure type 52 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals