At number 2677th in the list of Australian suburbs ordered by increase in median house value over the last year, Artarmon, 2064 is in the BOTTOM 40% with a property value increase of -2.63% recorded in median house prices.
The five-year average increase in median property values for Artarmon,2064 has given property investors a potential capital gain of 45.40% across each of those five years.
In the last year 29 properties changed hands in Artarmon, which puts it as the 1005th most active market in NSW when comparing the number of sales per suburb.
Using the current median advertised rental of $1050 and the average annual increase in value of a median property of 5.90%, investors should hope to achieve an overall return of 2.27%
Property investors who have had real estate in Artarmon, 2064 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.63%
A 30.50% growth in median value for property investors in Artarmon,2064 puts this suburb at number 355th in terms of best performing suburbs in NSW
Property buyers and investors in Artarmon 2064 should be seeing an average reduction in asking price of around -6.27% . This means that Artarmon is holding prices well when compared to other suburbs in NSW.
Property investors should expect to get $600 weekly from the median priced house in this suburb.
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Renters may be priced out
Median unit price: $967,500
Rental vacancy rate: 6.6%
Three-year growth: 28.7%
A hub of media offices, the suburb of Artarmon is home to the offices of the Special Broadcasting Service and Fox Sports. It also used to house the offices of the Australian Broadcasting Corporation.
Artarmon is divided according to its industrial, commercial and residential uses. High-rise properties are located to the west of the railway line that stops at Artarmon Station, while houses are established on the eastern side. The industrial hub is located south of the Gore Hill Freeway. Artarmon also hosts a namesake fair annually in May.
High prices could contribute to why Artarmon’s rental vacancy rates have increased from 5.0% to 6.6% in the 12 months to August 2018. The average weekly rent rate comes in at $620 as apartment values inch closer to the $1m mark, with landlords gaining yields of only 3.3% on average.