At number 1955th in the list of Australian suburbs ordered by increase in median house value over the last year, Newtown, 2042 is in the top half with a property value increase of 4.97% recorded in median house prices.
Over the longer term, Newtown has seen property prices show investors a 46.67% return over the last 3 years. This is worse than over the last 12 months
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 -1.95% is being offered, which puts this NSW suburb at 3725th most discounted overall in Australia.
Advertised rents are around the $750 mark per week – giving a return of 2.95% based on the median price in Suburb
Giving property investors a a solid capital gain of 19.59% for the last year, Newtown, 2042 is the 92th highest performer in Australia in this respect.
Over the longer term, Newtown has seen property prices show investors a 28.60% return over the last 3 years. This is worse than over the last 12 months
Newtown, 2042 is offering NSW ‘s 40th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.
Newtown is 484th on a list of best yielding suburbs for rents in NSW with a 3.42% 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