At number 105th in the list of Australian suburbs ordered by increase in median house value over the last year, Rhodes, 2138 is in the top 10% with a property value increase of 29.04% recorded in median house prices.
If we look at median property appreciation over just the last three months, Rhodes has given property investors a paper return of 9.93%. This puts Suburb as 132 on a list of fastest fasting appreciating suburbs in NSW
Rhodes, 2138’s gross rental yield is 1.26%
Property investors who have had real estate in Rhodes, 2138 should be ok 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 1.97%
Across a shorter period, Rhodes, 2138 has seen a median price increase of 1.22% over the last quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.26% offered to property buyers. Sellers in Rhodes itself are offering an average vendor discount of -4.36% to real estate investors.
In the last year 257 properties changed hands in Rhodes, which puts it as the 38th most active market in NSW when comparing the number of sales per suburb.
Using the current median advertised rental of $650 and the average annual increase in value of a median property of 5.29%, investors should hope to achieve an overall return of 3.89%
While it’s only 20km from the Sydney CBD, Rhodes doesn’t seem to be attractive to tenants right now.Full summary
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While it’s only 20km from the Sydney CBD, Rhodes doesn’t seem to be attractive to tenants right now.Close
The vacancy rate of the inner-west suburb is getting dangerously close to double figures, sitting at 8.65%. Rhodes’ high vacancy rate might have something to do with the high proportion of apartments in the area.
According to ABS statistics, there are more than 1,800 apartments in the suburb, which account for over 57% of its housing stock.
While Rhodes is not currently popular with tenants, there are many amenities in the area that could help it attract more tenants in the future.
Rhodes is on the banks of the Parramatta River and serviced by the North Shore train line.
The Concord Hospital is nearby and there is good shopping available at the Rhodes Waterside Shopping Centre.