Property investors who have had real estate in Newtown, 2042 should be ok 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 6.25%
Newtown,2042 has offered an average of 6.25% return per annum in house price rises to property investors over the last three 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 -1.32% is being offered, which puts this NSW suburb at 3747th most discounted overall in Australia.
Residents and property investors in Newtown have been waiting around 38.5 days to sell a property.
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 15.04%.
Over the longer term, Newtown has seen property prices show investors a 21.62% return over the last 3 years. This is worse than over the last 12 months
Newtown2042 is located in NSW which offers an average discount of -4.33% to property investors. Newtown itself is showing figures that indicate -6.89% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Newtown the average time real estate has been on the market is 36.9 days.
Property investors should expect to get $510 weekly from the median priced house in this suburb.
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