Investment property in Cremorne has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.61%
Cremorne,2090 has offered an average of 12.61% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -9.54% to buyers in Cremorne at the moment, which is less than average for the rest of NSW.
On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.
Advertised rents are around the $1250 mark per week – giving a return of 2.61% based on the median price in Suburb
Over the last year, property investments in Cremorne, 2090 have given investors a capital gain of 21.03%. This compares very favourably with the 8.63% for NSW as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cremorne has increased when compared to the 5 year average annual rate.
Property buyers and investors in Cremorne 2090 should be seeing an average reduction in asking price of around -5.13% . This means that Cremorne is holding prices well when compared to other suburbs in NSW.
Advertised rents are around the $650 mark per week – giving a return of 2.86% based on the median price in Suburb
On the lower part of Sydney’s North Shore, the suburb of Cremorne is reporting high demand despite high unit prices.Full summary
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CBD proximity enhances North Shore suburb’s charm
Median unit price: $1,040,000
Three-year growth: 35.95%
Rental yield: 3.25%
On the lower part of Sydney’s North Shore, the suburb of Cremorne is reporting high demand despite high unit prices.
The stock of properties in this suburb has gone down, which could have spurred buyer competition. In addition, Cremorne is just 6km north of the CBD, making it the perfect suburb for those working in that area as Sydney is roughly 15 minutes away by bus. Thus, apartments spend only a short 45 days on the market, selling at an average discount of just 4%. The growth of 17% over the past 12 months sustains a strong average annual growth rate of 7.23%.
While Cremorne is primarily residential, there is a well-stocked commercial area that offers a supermarket, restaurants and other shops. The local Art Deco-styled cinema, the Hayden Orpheum Picture Palace, is also one of the suburb’s main features.