Over the last year, property investments in Potts Point, 2011 have given investors a capital gain of -0.66%. This compares favourably with the -4.02% for NSW as a whole.
If we look at median property appreciation over just the last three months, Potts Point has given property investors a paper return of 1.69%. This puts Suburb as 107 on a list of fastest fasting appreciating suburbs in NSW
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Potts Point, 2011. Typically our figures indicate that -8.18% is being offered, which puts this NSW suburb at 226th most discounted overall in Australia.
Advertised rents are around the $575 mark per week – giving a return of 3.97% based on the median price in Suburb
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Little Manhattan is a great market
Median unit price: $640,000
Three-year growth: 20.8%
Rental yield: 4.5%
Potts Point has been called a “little Manhattan” due to the many cafes, bars and restaurants in the suburb. It also enjoys close proximity to the CBD, being just 3km away. This advantage has been highlighted through the ease of transport to the city via Kings Cross railway station and through State Transit buses. Residents can even just walk to the neighbouring suburb of Woolloomooloo via several sets of stairs, including Hills Stairs, McElhone Stairs and Hordern’s Stairs.
The unit market was shaken slightly in the year to July 2018, with prices dropping by 4.2%. However, it bounced back in the July 2018 quarter, with values inching up again by 3.2% to hit a median of $640,000. Demand is also evident in how apartments spend less than two months on the market before being snapped up.