At number 3067th in the list of Australian suburbs ordered by increase in median house value over the last year, Surry Hills, 2010 is in the BOTTOM 30% with a property value increase of -7.69% recorded in median house prices.
Across a shorter period, Surry Hills, 2010 has seen a median price increase of 0.76% over the last quarter.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.38% offered to property buyers. Sellers in Surry Hills itself are offering an average vendor discount of -7.93% to real estate investors.
Property investors should expect to get $950 weekly from the median priced house in this suburb.
Surry Hills, 2010 ranked 411th in NSW when comparing growth in median property values or capital gain over the last 12 months. Surry Hills is one of 3163 in our list for NSW
If we look at median property appreciation over just the last three months, Surry Hills has given property investors a paper return of -1.30%. This puts Suburb as 274 on a list of fastest fasting appreciating suburbs in NSW
Property investors looking for a bargain in Surry Hills should be aiming for at least -7.56% off the asking price, which is the average vendor discount being achieved at the moment.
The NSW suburb of Surry Hills, 2010 is in the Sydney (C) local government area.
Information supplied by:
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.