NSW has seen average median house prices change by 7.28% which means that North Sydney, 2060 has done well for property investors by showing a capital gain of 7.92% over the last year
The five-year average increase in median property values for North Sydney,2060 has given property investors a potential capital gain of 51.18% 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 8.15%, investors should hope to achieve an overall return of 2.56%
North Sydney, 2060 ranked 345th in NSW when comparing growth in median property values or capital gain over the last 12 months. North Sydney is one of 3163 in our list for NSW
When looking at the potential capital gains offered to property investors over the last 3 years, North Sydney comes in at number 454th in NSW.
Vendor discounting in North Sydney is giving property investors an average Vendor Discount of around -4.45%. This puts suburb at number 212th in NSW when ranking the most discounted suburbs.
North Sydney is 446th on a list of best yielding suburbs for rents in NSW with a 3.60% return
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