Suburb Profile Report for Potts Point NSW (2011)

Potts Point Unit: Median price $625,000, Annual capital growth 5.69%, Number of sales 213, Weekly median advertised rent $500

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

Source: CoreLogic

  • Unit Report
  • Expert Report

NSW has seen average median house prices change by 6.59% which means that Potts Point, 2011 has done well for property investors by showing a capital gain of 5.13% over the last year

If we look at median property appreciation over just the last three months, Potts Point has given property investors a paper return of 4.17%. This puts Suburb as 103 on a list of fastest fasting appreciating suburbs in NSW

Potts Point2011 is located in NSW which offers an average discount of -4.48% to property investors. Potts Point itself is showing figures that indicate -4.02% is the average achievable by property buyers investing in the suburb.

In the last year 213 properties changed hands in Potts Point, which puts it as the 45th most active market in NSW when comparing the number of sales per suburb.

The NSW suburb of Potts Point, 2011 is in the Sydney local government area.

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Potts Point’s main attraction is its affordability. Units here are a steal compared to its neighbours such as Rushcutters Bay, Elizabeth Bay or Woolloomooloo.Full summary

Potts Point’s main attraction is its affordability. Units here are a steal compared to its neighbours such as Rushcutters Bay, Elizabeth Bay or Woolloomooloo.

While Potts Point is only about 2km from the Sydney CBD, being in close proximity to Kings Cross – which is dominated by bars, adult shops and night clubs – has made the suburb less desirable than its more affluent and family-friendly neighbours such as Rushcutters Bay or Elizabeth Bay.

“Potts Point is an excellent area for investment,” says www.propertybuyer.com.au CEO Rich Harvey. “It’s adjacent to Kings Cross, so it comes across as seedy, but it has changed its character and its reputation is improving. Properties here are very tightly held. They’ve consistently attracted high demand so, if you can afford it, it’s a good area to invest in.”

Residents of Potts Point enjoy excellent amenities, from retail to entertainment and transport, being so close to the Sydney CBD. The suburb has the Kings Cross train station as well as multiple bus services. Being right next to the CBD also means many residents can simply walk to their workplace.

More than two thirds (62%) of Potts Points residents are renters, which helps to explain the consistently strong rental yields being achieved in the suburb. Residents are also quite affluent, earning $2,603 per week on average – compared to $1,367 across NSW – according to SQM Research. This combination of high incomes and relatively affordable property prices contributes to property owners only having to spend an average of 20% of their monthly income on repaying their mortgages. Population growth has been steadily rising by 1%pa over recent years.

Best streets: Macleay and Darlinghurst St
Where to avoid: Properties located near the bars and nightclubs along Kings Cross

Close
HOUSE UNIT
N/A $625,000
N/A 4.17%
N/A 5.13%
N/A 5.69%
N/A $500
N/A 213
N/A 4.16%
N/A 38.62

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
Find a mortgage broker in Potts Point NSW
Demographics
Total population 6861
Median household income ($/weekly) 1506
Median age of persons 35
Median housing loan repayment ($/monthly) 2167
Average household size 1.5
  • Census Count Percent(%)
    20-24 years 761 11.1
    25-34 years 2234 32.6
    35-44 years 1367 19.9
    45-54 years 842 12.3
    55-64 years 650 9.5
    Others 1007 14.7
    Age Group
    Census Count Percent(%)
    Not Married 2800 58.8
    Defacto Relationship 1146 24.1
    Registered Married 818 17.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3356 57.8
    Papua New Guinea 326 5.6
    United Kingdom 541 9.3
    United States of America 137 2.4
    Other 521 9.0
    Others 923 15.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 221 4.0
    Christianity 2691 48.5
    Islam 68 1.2
    Judaism 107 1.9
    No Religion 2371 42.7
    Others 96 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 238 7.6
    $1,000-$1,249 316 10.0
    $1,250-$1,499 297 9.4
    $1,500-$1,999 401 12.7
    $2,500-$2,999 543 17.2
    Others 1354 43.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3517 62.4
    Not in the labour force 928 16.5
    Employed, worked part-time 811 14.4
    Unemployed, looking for work 217 3.8
    Employed, away from work 167 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 754 16.8
    Professionals 1637 36.4
    Technicians & trades workers 448 10.0
    Community & personal service workers 533 11.8
    Clerical & administrative workers 545 12.1
    Others 582 12.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 46 5.1
    Secondary 112 12.5
    Technical or Further Educational Institution 139 15.5
    University or other Tertiary Institutions 451 50.4
    Other type of educational institution 126 14.1
    Others 21 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 4705 93.7
    Semi-detached, row or terrace house, townhouse 281 5.6
    Separate house 33 0.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2111 64.1
    Being purchased 665 20.2
    Fully owned 508 15.4
    Other tenure type 9 0.3
    Tenure Type
Census 2011, ABS
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