Investment property in Newtown has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.28%
Taking the average capital gain, or increase in median house value, Newtown,2042 has racked up an average of 3.28% over the period. This ranks it number 568th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -1.95% to buyers in Newtown at the moment, which is less than average for the rest of NSW.
On average over the past year, suburb has had 14.25 sales per month, which equates to 171 per year.
Newtown is 909th on a list of best yielding suburbs for rents in NSW with a 2.95% return
Giving property investors a a solid capital gain of 21.01% for the last year, Newtown, 2042 is the 91th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Newtown comes in at number 231th in NSW.
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 -6.54% is being offered, which puts this NSW suburb at 371th most discounted overall in Australia.
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