Investment property in Redfern has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.01%
Taking the average capital gain, or increase in median house value, Redfern,2016 has racked up an average of 7.01% over the period. This ranks it number 4003th in the whole country for real estate investors looking at median house price increases.
Situated 2.86km from the CBD, Redfern is one of Sydney (C) localities in the postcode 2016.
Investment property in Redfern has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -12.96%
Taking the average capital gain, or increase in median house value, Redfern,2016 has racked up an average of -12.96% over the period. This ranks it number 1329th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Redfern is giving property investors an average Vendor Discount of around -5.03%. This puts suburb at number 64th in NSW when ranking the most discounted suburbs.
On average over the past year, suburb has had 11.08 sales per month, which equates to 133 per year.
Redfern is 333th on a list of best yielding suburbs for rents in NSW with a 3.59% return
Information supplied by:
Prestige suburb maintains status
Median house price: $1,567,500
Three-year growth: 56.0%
Rental yield: 2.7%
Gentrification has transformed the suburb of Redfern into a prestige area. It has been recording consistent growth for at least five years, and this trend looks to continue into the near future.
Located just 3km from the Sydney CBD, Redfern is a bustling commercial hub that draws city dwellers. Shopping is concentrated at Redfern Street, and to the east is the Redfern railway station. This station is the one closest to the University of Sydney at Camperdown and Darlington; thus, a constant flow of commuters keeps the area busy. In addition to being near the university, Redfern is the site of St Andrew’s Greek Theological College.
Redfern is a significant place to the Aboriginal community as the site of The Block, where many members of this community were given access to housing.