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 13.80%
The five-year average increase in median property values for North Sydney,2060 has given property investors a potential capital gain of 59.41% across each of those five years.
Using the current median advertised rental of $950 and the average annual increase in value of a median property of 10.15%, investors should hope to achieve an overall return of 2.43%
North Sydney is in the TOP 30% in NSW when comparing median price capital growth over the last year. North Sydney gave property investors a good capital gain figure when compared to the rest of the state, with 10.66%.
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.
LACK OF BUYER INTEREST may well be the reason that North Sydney is offering property investors an average of -4.41. This rate of discount on properties puts Suburb at number 211th in terms of most discounted suburbs in NSW
Residents and property investors in North Sydney have been waiting around 62.52 days to sell a property.
North Sydney, 2060’s gross rental yield is 3.35%
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