At number 39th 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 36.34% 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 -8.38%. This puts Suburb as 1359 on a list of fastest fasting appreciating suburbs in NSW
A $650 per week rent on the median house gives suburb investors a gross yield of circa 1.33%, without taking into account capital value appreciation, which has been averaging out at 17.85%.
Rhodes is in the bottom 40% in NSW when comparing median price capital growth over the last year. Rhodes gave property investors a disappointing capital gain figure when compared to the rest of the state, with 3.53%.
If we look at median property appreciation over just the last three months, Rhodes has given property investors a paper return of 1.56%. This puts Suburb as 304 on a list of fastest fasting appreciating suburbs in NSW
Our latest figures would indicate that property sellers in Rhodes are currently offering property investors an average price cut of -4.01% below the asking price at the moment.
Residents and property investors in Rhodes have been waiting around 68.01 days to sell a property.
Using the current median advertised rental of $650 and the average annual increase in value of a median property of 5.19%, investors should hope to achieve an overall return of 3.84%
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.