On average over the past year, suburb has had 1.25 sales per month, which equates to 15 per year.
Giving property investors a a solid capital gain of 11.66% for the last year, Ultimo, 2007 is the 279th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Ultimo,2007 has racked up an average of 11.66% over the period. This ranks it number 1371th in the whole country for real estate investors looking at median house price increases.
Ultimo, 2007 is offering NSW ‘s 2nd most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 9.48%, investors should hope to achieve an overall return of 3.92%
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Information supplied by:
February 2018
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Inner-city suburb boasts high occupancy
Postcode: 2007
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.