North Sydney is in the TOP 10% in NSW when comparing median price capital growth over the last year. North Sydney gave property investors a very good capital gain figure when compared to the rest of the state, with 22.53%.
North Sydney,2060 has offered an average of 22.53% return per annum in house price rises to property investors over the last three years.
With the median price for a house in North Sydney being $2200000 and the advertised rent reaching $965 the gross rental yield for property investors calculates out to be 2.28%
With a capital gain of 16.56% for the last 12 months, North Sydney, 2060 has performed for property investments than its average annual 7.94% property growth over the last 5 years.
North Sydney,2060 was ranked 182 in Australia by increase in median property value over the quarter.
Property buyers and investors in North Sydney 2060 should be seeing an average reduction in asking price of around -4.37% . This means that North Sydney is holding prices well when compared to other suburbs in NSW.
Property investors should expect to get $610 weekly from the median priced house in this 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