Property investors who have had real estate in Mascot, 2020 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.85%
Mascot,2020 was ranked 3220 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -8.12% to buyers in Mascot at the moment, which is less than average for the rest of NSW.
Residents and property investors in Mascot have been waiting around 107.185 days to sell a property.
Mascot, 2020’s gross rental yield is 3.09%
Giving property investors a an average capital gain of -4.03% for the last year, Mascot, 2020 is the 886th highest performer in Australia in this respect.
While Mascot,2020 ranked number 161th in NSW for increase in median house value (annualised) increase, it is ranked 60th over the last 5 years.
Sellers are offering property buyers an average discount of -5.07% to buyers in Mascot at the moment, which is less than average for the rest of NSW.
Using the current median advertised rental of $700 and the average annual increase in value of a median property of 6.94%, investors should hope to achieve an overall return of 4.14%
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Airport’s home gets a shock from new stock
Median unit price: $845,000
Stock on market: 160%
12-month growth: -6.11%
The home of the Sydney Airport, the suburb of Mascot saw its stock of apartments skyrocket over the past 12 months.
This sharp spike in supply has caused unit prices to drop by 6% following a consistent trend of positive growth up until the past year. Nonetheless, Mascot looks to be recovering from the shock as the February 2017 quarter figures suggested that unit values were on their way up once more.
Demand in Mascot is definitely spurred by its role as an administrative centre of the Bayside Council. Moreover, this suburb is only 7km away from the Sydney CBD. As a result, the median apartment price remains steep at $845,000.
There is a shopping centre on Botany Road, and the local railway station is undergoing redevelopment to further maximise the space for commercial and residential purposes.