Over the last year, property investments in Newtown, 2042 have given investors a capital gain of 1.68%. This compares badly with the 7.93% for NSW as a whole.
The five-year average increase in median property values for Newtown,2042 has given property investors a potential capital gain of 60.78% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Newtown, 2042. Typically our figures indicate that -3.81% is being offered, which puts this NSW suburb at 3276th most discounted overall in Australia.
Situated 4.35km from the CBD, Newtown is one of Sydney localities in the postcode 2042.
Property investors who have had real estate in Newtown, 2042 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.60%
The five-year average increase in median property values for Newtown,2042 has given property investors a potential capital gain of 70.88% across each of those five years.
Vendor discounting in Newtown is giving property investors an average Vendor Discount of around -3.02%. This puts suburb at number 395th in NSW when ranking the most discounted suburbs.
In the last year 106 properties changed hands in Newtown, which puts it as the 130th most active market in NSW when comparing the number of sales per suburb.
Newtown is 440th on a list of best yielding suburbs for rents in NSW with a 3.66% 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