Giving property investors a an average capital gain of -3.70% for the last year, Kensington, 2033 is the 2447th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Kensington has given property investors a paper return of -2.35%. This puts Suburb as 996 on a list of fastest fasting appreciating suburbs in NSW
In the last year 27 properties changed hands in Kensington, which puts it as the 880th most active market in NSW when comparing the number of sales per suburb.
The NSW suburb of Kensington, 2033 is in the Randwick (C) local government area.
If you compare the increase in value of investment property in Kensington, 2033 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -9.22%.
Across a shorter period, Kensington, 2033 has seen a median price increase of 0.00% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Kensington is offering property investors an average of -6.75. This rate of discount on properties puts Suburb at number 63th in terms of most discounted suburbs in NSW
With the median price for a house in Kensington being $792500 and the advertised rent reaching $590 the gross rental yield for property investors calculates out to be 3.87%
Information supplied by:
Median House Price: $2,662,500
Current Yield (houses): 2.0%
Average annual growth (houses): 9.6%
Median Unit Price: $780,000
Current Yield (units): 4.0%
Average annual growth (units): 5.1%
A suburb that benefits strongly from infrastructure projects, Kensington enjoys demand due to the conveniences in and around the area.
“It is best known as the home of the University of NSW but it has lots of lifestyle attractions for families, young professionals and students. It will also benefit from the new light rail connection to the CBD,” says Metropole Property Strategists CEO Michael Yardney.
He sees the top draws as being “well located apartments in its wide tree lined streets, which make great investments.”