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