Giving property investors a an unimpressive capital gain of 8.06% for the last year, Bellevue Hill, 2023 is the 3023th highest performer in Australia in this respect.
Across a shorter period, Bellevue Hill, 2023 has seen a median price increase of 5.51% over the last quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.39% offered to property buyers. Sellers in Bellevue Hill itself are offering an average vendor discount of -4.65% to real estate investors.
Advertised rents are around the $2000 mark per week – giving a return of 1.55% based on the median price in Suburb
If you compare the increase in value of investment property in Bellevue Hill, 2023 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -2.07%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bellevue Hill comes in at number 252th in NSW.
Property investors looking for a bargain in Bellevue Hill should be aiming for at least -7.88% off the asking price, which is the average vendor discount being achieved at the moment.
A $627.5 per week rent on the median house gives suburb investors a gross yield of circa 2.51%, without taking into account capital value appreciation, which has been averaging out at 7.39%.
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.