NSW has seen average median house prices change by 9.74% which means that North Sydney, 2060 has done well for property investors by showing a capital gain of 22.30% over the last year
Taking the average capital gain, or increase in median house value, North Sydney,2060 has racked up an average of 22.30% over the period. This ranks it number 667th in the whole country for real estate investors looking at median house price increases.
North Sydney has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 19.43% to date .
The five-year average increase in median property values for North Sydney,2060 has given property investors a potential capital gain of 79.36% across each of those five years.
North Sydney, 2060 is offering NSW ‘s 184th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NSW.
Using the current median advertised rental of $617.5 and the average annual increase in value of a median property of 7.61%, investors should hope to achieve an overall return of 3.28%
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
Information supplied by:
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