NSW has seen average median house prices change by 10.14% which means that Surry Hills, 2010 has done well for property investors by showing a capital gain of 13.89% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Surry Hills has increased when compared to the 5 year average annual rate.
Property buyers and investors in Surry Hills 2010 should be seeing an average reduction in asking price of around -1.67% . This means that Surry Hills is holding prices well when compared to other suburbs in NSW.
On average over the past year, suburb has had 7.83 sales per month, which equates to 94 per year.
Renters in Suburb are facing rents around $10200 per annum or $850 every week.
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 2.74%.
Surry Hills,2010 has offered an average of 2.74% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Surry Hills should be aiming for at least -2.67% off the asking price, which is the average vendor discount being achieved at the moment.
At number 229 in a list of fastest selling suburbs, Surry Hills is in the TOP 20% of suburbs in Australia with an average of days on market 45.18 for properties listed there.
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.