NSW has seen average median house prices change by -3.67% which means that Ultimo, 2007 has not done well for property investors by showing a capital gain of -2.01% over the last year
A 19.65% growth in median value for property investors in Ultimo,2007 puts this suburb at number 149th in terms of best performing suburbs in NSW
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.75% offered to property buyers. Sellers in Ultimo itself are offering an average vendor discount of -10.15% to real estate investors.
Renters in Suburb are facing rents around $32240 per annum or $620 every week.
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Inner-city suburb boasts high occupancy
Median unit price: $790,000
Vacancy rate: 1.5%
Three-year growth: 42.3%
Just a hop and a skip from the Sydney CBD, Ultimo is a prime spot for those working in the city.
The average vacancy rate plummeted by nearly half to just 1.5% in November 2017 from 2.8% 12 months previously, indicating remarkable demand. In this period, the unit market reported 5.3% growth, maintaining a five-year trend of positive growth. However, the November 2017 quarter findings also showed a 4.8% drop in apartment values, generating a median unit price of $790,000.
Nonetheless, Ultimo’s bustling commercial scene should sustain buyer interest. The Broadway Shopping Centre is located here, as is the headquarters of the Australian Broadcasting Corporation. Sports aficionados will love Wentworth Park, which is a well-stocked facility for soccer, rugby and the like.