Over the last year, property investments in Surry Hills, 2010 have given investors a capital gain of 10.13%. This compares averagely with the 11.75% for NSW as a whole.
Surry Hills,2010 has offered an average of 10.13% return per annum in house price rises to property investors over the last three years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.45% offered to property buyers. Sellers in Surry Hills itself are offering an average vendor discount of -1.25% to real estate investors.
A $850 per week rent on the median house gives suburb investors a gross yield of circa 3.08%, without taking into account capital value appreciation, which has been averaging out at 8.38%.
At number 1241th in the list of Australian suburbs ordered by increase in median house value over the last year, Surry Hills, 2010 is in the BOTTOM 30% with a property value increase of -1.37% recorded in median house prices.
While Surry Hills,2010 ranked number 506th in NSW for increase in median house value (annualised) increase, it is ranked 322th over the last 5 years.
Sellers are offering property buyers an average discount of -3.07% to buyers in Surry Hills at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Surry Hills the average time real estate has been on the market is 43.61 days.
Property investors should expect to get $600 weekly from the median priced house in this suburb.
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.