At number 3505th in the list of Australian suburbs ordered by increase in median house value over the last year, Parramatta, 2150 is in the BOTTOM 20% with a property value increase of -4.68% recorded in median house prices.
If we look at median property appreciation over just the last three months, Parramatta has given property investors a paper return of 8.74%. This puts Suburb as 131 on a list of fastest fasting appreciating suburbs in NSW
Our latest figures would indicate that property sellers in Parramatta are currently offering property investors an average price cut of -2.19% below the asking price at the moment.
Parramatta, 2150’s gross rental yield is 2.27%
Over the last year, property investments in Parramatta, 2150 have given investors a capital gain of -3.08%. This compares very badly with the 6.07% for NSW as a whole.
The five-year average increase in median property values for Parramatta,2150 has given property investors a potential capital gain of 43.67% across each of those five years.
Property investors looking for a bargain in Parramatta should be aiming for at least -5.39% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Parramatta being $630000 and the advertised rent reaching $470 the gross rental yield for property investors calculates out to be 3.88%