At number 3890th in the list of Australian suburbs ordered by increase in median house value over the last year, Ultimo, 2007 is in the BOTTOM 20% with a property value increase of 0.00% recorded in median house prices.
The five-year average increase in median property values for Ultimo,2007 has given property investors a potential capital gain of 40.54% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Ultimo is offering property investors an average of -2.11. This rate of discount on properties puts Suburb at number 749th in terms of most discounted suburbs in NSW
Often selling an investment property can take time, and in Ultimo the average time real estate has been on the market is 0 days.
Ultimo, 2007’s gross rental yield is 0.00%
NSW has seen average median house prices change by 9.41% which means that Ultimo, 2007 has done well for property investors by showing a capital gain of 21.88% over the last year
Taking the average capital gain, or increase in median house value, Ultimo,2007 has racked up an average of 21.88% over the period. This ranks it number 366th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Ultimo is $745000, with sellers offering an average of -4.49% off the asking price.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
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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.