Suburb Profile Report for Potts Point NSW (2011)

Potts Point Unit: Median price $775,000, Annual capital growth 8.55%, Number of sales 197, Weekly median advertised rent $550

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • Unit Report

NSW has seen average median house prices change by -0.92% which means that Potts Point, 2011 has not done well for property investors by showing a capital gain of 6.16% over the last year

The five-year average increase in median property values for Potts Point,2011 has given property investors a potential capital gain of 42.20% across each of those five years.

Vendor discounting in Potts Point is giving property investors an average Vendor Discount of around -7.39%. This puts suburb at number 63th in NSW when ranking the most discounted suburbs.

Using the current median advertised rental of $550 and the average annual increase in value of a median property of 8.55%, investors should hope to achieve an overall return of 3.69%

Information supplied by:


October 2018

M
O

W
E

Little Manhattan is a great market

Postcode: 2011

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.

Metrics i HOUSE UNIT
N/A $775,000
N/A 2.31%
N/A 6.16%
N/A 8.55%
N/A $550
N/A 197
N/A 3.69%
N/A 60.8793103448276

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Potts Point NSW
Demographics
Total population 6861
Median household income ($/weekly) 1506
Median age of persons 35
Median housing loan repayment ($/monthly) 2167
Average household size 1.5
  • Census Count Percent(%)
    20-24 years 761 11.1
    25-34 years 2234 32.6
    35-44 years 1367 19.9
    45-54 years 842 12.3
    55-64 years 650 9.5
    Others 1007 14.7
    Age Group
    Census Count Percent(%)
    Not Married 2800 58.8
    Defacto Relationship 1146 24.1
    Registered Married 818 17.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3356 57.8
    Papua New Guinea 326 5.6
    United Kingdom 541 9.3
    United States of America 137 2.4
    Other 521 9.0
    Others 923 15.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 221 4.0
    Christianity 2691 48.5
    Islam 68 1.2
    Judaism 107 1.9
    No Religion 2371 42.7
    Others 96 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 238 7.6
    $1,000-$1,249 316 10.0
    $1,250-$1,499 297 9.4
    $1,500-$1,999 401 12.7
    $2,500-$2,999 543 17.2
    Others 1354 43.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3517 62.4
    Not in the labour force 928 16.5
    Employed, worked part-time 811 14.4
    Unemployed, looking for work 217 3.8
    Employed, away from work 167 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 754 16.8
    Professionals 1637 36.4
    Technicians & trades workers 448 10.0
    Community & personal service workers 533 11.8
    Clerical & administrative workers 545 12.1
    Others 582 12.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 46 5.1
    Secondary 112 12.5
    Technical or Further Educational Institution 139 15.5
    University or other Tertiary Institutions 451 50.4
    Other type of educational institution 126 14.1
    Others 21 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 4705 93.7
    Semi-detached, row or terrace house, townhouse 281 5.6
    Separate house 33 0.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2111 64.1
    Being purchased 665 20.2
    Fully owned 508 15.4
    Other tenure type 9 0.3
    Tenure Type
Census 2011, ABS
Chart Table