Investment property in North Sydney has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.72%
If we look at median property appreciation over just the last three months, North Sydney has given property investors a paper return of -3.14%. This puts Suburb as 1244 on a list of fastest fasting appreciating suburbs in NSW
North Sydney, 2060’s gross rental yield is 2.67%
North Sydney has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -3.09% to date .
If we look at median property appreciation over just the last three months, North Sydney has given property investors a paper return of 3.42%. This puts Suburb as 156 on a list of fastest fasting appreciating suburbs in NSW
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.42% offered to property buyers. Sellers in North Sydney itself are offering an average vendor discount of -4.91% to real estate investors.
A $600 per week rent on the median house gives suburb investors a gross yield of circa 3.69%, without taking into account capital value appreciation, which has been averaging out at 6.53%.
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