With a capital gain of 3.20% for the last 12 months, Ultimo, 2007 has performed for property investments than its average annual 12.01% property growth over the last 5 years.
Ultimo,2007 was ranked 321 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Ultimo are currently offering property investors an average price cut of -11.00% below the asking price at the moment.
Property investors should expect to get $620 weekly from the median priced house in this suburb.
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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.