Investment property in Surry Hills has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.75%
Across a shorter period, Surry Hills, 2010 has seen a median price increase of 3.99% over the last quarter.
Vendor discounting in Surry Hills is giving property investors an average Vendor Discount of around -1.67%. This puts suburb at number 1225th in NSW when ranking the most discounted suburbs.
Advertised rents are around the $822.5 mark per week – giving a return of 2.80% based on the median price in Suburb
With a capital gain of -1.17% for the last 12 months, Surry Hills, 2010 has performed for property investments than its average annual 7.18% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Surry Hills,2010 has racked up an average of -1.17% over the period. This ranks it number 323th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -2.53% to buyers in Surry Hills at the moment, which is less than average for the rest of NSW.
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.