If you compare the increase in value of investment property in Newtown, 2042 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was 1.98%.
Newtown,2042 has offered an average of 1.98% return per annum in house price rises to property investors over the last three years.
Newtown, 2042 is offering NSW ‘s 1203th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this NSW.
With the median price for a house in Newtown being $1290000 and the advertised rent reaching $750 the gross rental yield for property investors calculates out to be 3.02%
If you compare the increase in value of investment property in Newtown, 2042 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 12.06%.
Comparing Newtown,2042 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Newtown are currently offering property investors an average price cut of -3.02% below the asking price at the moment.
On average over the past year, suburb has had 9.92 sales per month, which equates to 119 per year.
Newtown is 458th on a list of best yielding suburbs for rents in NSW with a 3.59% return
Rich Harvey of www.propertybuyers.com.au has two words to describe Newtown: trendy and hip. “You’ve got the most diverse demographic in the suburb,” says Harvey. “You’ve got couples, singles, gays, students, recent migrants, as well as budding artist and writers. It’s really dynamic and vibrant.”Full summary
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Rich Harvey of www.propertybuyer.com.au has two words to describe Newtown: trendy and hip. “You’ve got the most diverse demographic in the suburb,” says Harvey. “You’ve got couples, singles, gays, students, recent migrants, as well as budding artist and writers. It’s really dynamic and vibrant.”
King Street, which is the main thoroughfare, has the highest concentration of shops and cafes in the area. The suburb is located close to Sydney University and Prince Alfred Hospital and has excellent transport via its own train station and regular bus services to the Sydney CBD.
“Some properties in Newtown have hit a premium, but I don’t think it’s going to dip that much because Newtown has a certain appeal to this demographic. A lot of people still prefer to live in Newtown than Enmore or Sydenham; even these suburbs are very close to Newtown because of its history and character,” says Harvey.
Newtown’s residents are mostly young, with an average age of 32 according to the ABS Census. A large proportion (54%) of residents rent, while a third are currently paying their mortgages and 16% fully-own their homes. Residents are also quite affluent, earning an average of $2,243 per week, compared to $1,367 across NSW.
While pricing for houses has hit a premium in Newtown, units are the affordable option at median price of just over $400,000.
At the current pricing for units, Jeremy Sheppard of DSRscore.com.au says Newtown is ripe for the picking, as it’s showing all the characteristics of a suburb about to emerge from a flat period while remaining relatively affordable.
Where to buy: Along Georgina St
Avoid: Close to the train line and near Stephens cemetery