Property investors who have had real estate in Bellevue Hill, 2023 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.96%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bellevue Hill has increased when compared to the 5 year average annual rate.
Property buyers and investors in Bellevue Hill 2023 should be seeing an average reduction in asking price of around -6.02% . This means that Bellevue Hill is holding prices well when compared to other suburbs in NSW.
A $1700 per week rent on the median house gives suburb investors a gross yield of circa 1.62%, without taking into account capital value appreciation, which has been averaging out at 7.37%.
Bellevue Hill has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 24.93% to date .
Taking the average capital gain, or increase in median house value, Bellevue Hill,2023 has racked up an average of 24.93% over the period. This ranks it number 252th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Bellevue Hill should be aiming for at least -16.40% off the asking price, which is the average vendor discount being achieved at the moment.
Bellevue Hill, 2023’s gross rental yield is 3.15%
Prices are still skyrocketing in Bellevue Hill, but this doesn’t seem to have affected demand as the average vacancy rate fell from 2.64% in April 2016 to 2.12% after 12 months, according to Real Estate Investar.Full summary
Information supplied by:
Occupants set their eyes on expensive suburb
Median house price: $4,837,500
Vacancy rate: 2.12%
Three-year growth: 38.21%
Prices are still skyrocketing in the premium suburb of Bellevue Hill, but this doesn’t seem to have affected demand as the average vacancy rate fell from 2.64% in April 2016 to 2.12% after 12 months, according to Real Estate Investar.
The suburb’s proximity likely plays a significant role in its popularity, since it’s just 5km from the Sydney CBD. Bellevue Hill has also played host to celebrity residents, including actress Toni Collette, while Russell Crowe was once a prospective buyer in this area. History is a big part of the residential scene, with the abundance of heritage buildings in town.
Bellevue Hill is the site of several public and private schools. Meanwhile, Sydney can be reached by bus and train. Close