Investment property in Harris Park has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.01%
In the last year 14 properties changed hands in Harris Park, which puts it as the 1313th most active market in NSW when comparing the number of sales per suburb.
With the median price for a house in Harris Park being $1108500 and the advertised rent reaching $385 the gross rental yield for property investors calculates out to be 1.81%
Harris Park is in the bottom 20% in NSW when comparing median price capital growth over the last year. Harris Park gave property investors a dismal capital gain figure when compared to the rest of the state, with -3.11%.
Taking the average capital gain, or increase in median house value, Harris Park,2150 has racked up an average of -3.11% over the period. This ranks it number 335th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Harris Park is offering property investors an average of -4.41. This rate of discount on properties puts Suburb at number 171th in terms of most discounted suburbs in NSW
Residents and property investors in Harris Park have been waiting around 61.68 days to sell a property.
Property investors should expect to get $410 weekly from the median priced house in this suburb.
Demand is already heating up in this suburb, with units typically spending just 28 days on the market, and a healthy vacancy rate of 2.13%, according to Real Estate Investar. The median price of units in Harris Park is also considerably cheaper than neighbours Parramatta ($520,000) and North Parramatta ($508,625).Full summary
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Harris Park: Underrated suburb with bright future
Parramatta may be on the minds of many investors, yet its neighbour Harris Park that also has a bright future. But let’s not kid ourselves. There are some top class amenities in Parramatta which residents of Harris Park love to take advantage of. Namely, the massive Westfield Shopping Centre, which is the fourth largest shopping centre in Australia.
Additionally, Harris Park has all the benefits of the Parramatta CBD, Parramatta Stadium and excellent transport options. The latter is only likely to get better in coming years as new transport infrastructure is put together including the WestConnex and the Badgerys Creek Airport.
In the suburb itself is a little shopping area on Marion St, plus it’s located very close to sought-after schools and universities. It is also a multicultural suburb that’s becoming especially popular with the Indian population.
Demand is already heating up in this suburb, with units typically spending just 28 days on the market, and a healthy vacancy rate of 2.13%, according to Real Estate Investar. The median price of units in Harris Park is also considerably cheaper than neighbours Parramatta ($520,000) and North Parramatta ($508,625).
There are many affordable units on Brisbane St, Alice St and Harris St which are within walking distance of railway stations, the Parramatta CBD and the Westfield Shopping Centre.
Most sought-after properties: Apartments
Most common properties: Apartments
Top amenities: Westfield Parramatta, Parramatta train station, Parramatta River, Westmead Public and Private Hospital, Cumberland Hospitals, Restaurants in Church street, Parramatta Park, Public and private school, Parramatta Swimming centre, Parramatta Stadium, University of Western Sydney, etc
Local industry and business: Major business and commercial centre. This is a large commercial and residential area and has been acknowledged at the administrative centre for the Greater Wester Sydney. Many government agencies based here and the headquarters for many businesses.
Public transport: Buses, Train and Ferry
Main arteries: Great Western Hwy, James Ruse Drive, M4 Western MwyClose