Property investors who have had real estate in North Sydney, 2060 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 20.83%
North Sydney,2060 has offered an average of 20.83% return per annum in house price rises to property investors over the last three years.
On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.
With the median price for a house in North Sydney being $2117500 and the advertised rent reaching $950 the gross rental yield for property investors calculates out to be 2.33%
Over the last year, property investments in North Sydney, 2060 have given investors a capital gain of 21.76%. This compares very favourably with the 7.74% for NSW as a whole.
Over the longer term, North Sydney has seen property prices show investors a 22.73% return over the last 3 years. This is worse than over the last 12 months
North Sydney2060 is located in NSW which offers an average discount of -4.16% to property investors. North Sydney itself is showing figures that indicate -4.25% is the average achievable by property buyers investing in the suburb.
In the last year 289 properties changed hands in North Sydney, which puts it as the 30th most active market in NSW when comparing the number of sales per suburb.
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