Investment property in North Sydney has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.87%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in North Sydney has increased when compared to the 5 year average annual rate.
Using the current median advertised rental of $957.5 and the average annual increase in value of a median property of 8.54%, investors should hope to achieve an overall return of 2.35%
With a capital gain of 21.56% for the last 12 months, North Sydney, 2060 has performed for property investments than its average annual 7.83% property growth over the last 5 years.
Across a shorter period, North Sydney, 2060 has seen a median price increase of 2.58% over the last quarter.
At number 144th of NSW’s most discounted properties, North Sydney is in the bottom 40% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 23.75 sales per month, which equates to 285 per year.
Using the current median advertised rental of $622.5 and the average annual increase in value of a median property of 7.83%, investors should hope to achieve an overall return of 3.25%
Home to Sydney’s world famous Harbour Bridge and boasting some of the most prestigious waterfront property in Australia, North Sydney is a thriving commercial hub 3km north of Sydney’s CBD. This suburb is still displaying consistent growth despite the high level of supply, indicating that thus far, demand could still be absorbing stock.Full summary
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NORTH SYDNEY, NSW – Business hub commands growth despite glut of units
Median house price: $1,912,500
Stock on market: 102.1%
12-month growth: 12.3%
The suburb of North Sydney could be one reason why some experts fear an oversupply in the capital.
According to Real Estate Investar, the amount of stock on market shot up by over 100%. The majority of the new supply consists of units, which went from 44 in 2015 to 90 as of November 2016. The vacancy rate of this period reflects the effect of this influx, as it skyrocketed from an already-high 6.4% to 7.7%.
Nonetheless, North Sydney is still displaying consistent growth despite the high level of supply, indicating that thus far, demand could still be sustaining it. CoreLogic data indicates that over the past 12 months, prices in this suburb increased by a staggering 12.3%, bringing the median house price to almost $2m. This is likely attributed to North Sydney’s very short distance from the CBD and status as a commercial district.Close