Kensington, 2033 ranked 814th in NSW when comparing growth in median property values or capital gain over the last 12 months. Kensington is one of 3163 in our list for NSW
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kensington has increased when compared to the 5 year average annual rate.
A $950 per week rent on the median house gives suburb investors a gross yield of circa 1.82%, without taking into account capital value appreciation, which has been averaging out at 6.93%.
Kensington has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 5.00% to date .
Taking the average capital gain, or increase in median house value, Kensington,2033 has racked up an average of 5.00% over the period. This ranks it number 990th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Kensington is $840000, with sellers offering an average of -7.45% off the asking price.
On average over the past year, suburb has had 10.08 sales per month, which equates to 121 per year.
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.”