If you compare the increase in value of investment property in Newtown, 2042 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 6.20%.
If we look at median property appreciation over just the last three months, Newtown has given property investors a paper return of 0.39%. This puts Suburb as 784 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Newtown is $1285000, with sellers offering an average of -3.81% off the asking price.
A $750 per week rent on the median house gives suburb investors a gross yield of circa 3.04%, without taking into account capital value appreciation, which has been averaging out at 9.00%.
NSW has seen average median house prices change by 8.14% which means that Newtown, 2042 has done well for property investors by showing a capital gain of 15.45% over the last year
Across a shorter period, Newtown, 2042 has seen a median price increase of 5.65% over the last quarter.
Vendor discounting in Newtown is giving property investors an average Vendor Discount of around -3.13%. This puts suburb at number 382th in NSW when ranking the most discounted suburbs.
Property investors should expect to get $495 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
Information supplied by:
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