Surry Hills is in the TOP 20% in NSW when comparing median price capital growth over the last year. Surry Hills gave property investors a very good capital gain figure when compared to the rest of the state, with 8.09%.
Taking the average capital gain, or increase in median house value, Surry Hills,2010 has racked up an average of 8.09% over the period. This ranks it number 2188th in the whole country for real estate investors looking at median house price increases.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.70% offered to property buyers. Sellers in Surry Hills itself are offering an average vendor discount of -7.39% to real estate investors.
A $920 per week rent on the median house gives suburb investors a gross yield of circa 2.70%, without taking into account capital value appreciation, which has been averaging out at 8.26%.
Surry Hills is an average performer in NSW when comparing median price capital growth over the last year. Surry Hills gave property investors a average capital gain figure when compared to the rest of the state, with -1.63%.
If we look at median property appreciation over just the last three months, Surry Hills has given property investors a paper return of 0.90%. This puts Suburb as 252 on a list of fastest fasting appreciating suburbs in NSW
LACK OF BUYER INTEREST may well be the reason that Surry Hills is offering property investors an average of -6.01. This rate of discount on properties puts Suburb at number 176th in terms of most discounted suburbs in NSW
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Sydney’s answer to Melbourne’s cafes and restaurants district, Surry Hills is a trendy suburb experiencing a massive surge in values.
Just 2km from the CBD, the suburb is teeming with cafes, bars and coffee shops.
It also boasts some of Sydney’s best nightlife.
Surry Hills is hip, young and one of the best places to find a small apartment.
Its proximity to the University of Sydney campus and Central Station (a short walk) makes it a highly sought after area to live in.
As such, demand from homebuyers and investors has been exceedingly strong during the past three years.
Since December 2012, median unit values have surged by a total of 33.3% to $753,000, according to OnTheHouse.com.au stats.
However, this strong growth is unlikely to continue due to affordability constraints.
OnTheHouse.com.au predicts no growth for units over the next eight years.