Over the last year, property investments in South Coogee, 2034 have given investors a capital gain of -5.56%. This compares averagely with the -4.21% for NSW as a whole.
A 28.65% growth in median value for property investors in South Coogee,2034 puts this suburb at number 433th in terms of best performing suburbs in NSW
In the last year 34 properties changed hands in South Coogee, which puts it as the 729th most active market in NSW when comparing the number of sales per suburb.
A $1295 per week rent on the median house gives suburb investors a gross yield of circa 2.83%, without taking into account capital value appreciation, which has been averaging out at 6.59%.
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Water views and beaches enhance its value
Median house price: $2,205,500
Vacancy rate: 0.77%
Three-year growth: 42.06%
Less than 10km south of Sydney is the beachside suburb of South Coogee. It provides residents and visitors with a beautiful view of the water from Coastal Walk.
Likely because of its ideal location, South Coogee is an expensive suburb, with the median house price clocking in at over $2m. Meanwhile, the average rent is a steep $1,225 per week. Although prices dropped slightly over January 2017, the suburb has historically recorded significant growth over the years, with a high average annual growth rate of 8.03%. The average vacancy rate fell from 1.23% to a very low 0.77% as well.
South Coogee houses Latham Park, a good-sized recreational spot that includes sports facilities such as football fields and bowling greens. It is also the home of the first cemetery in the Randwick municipality. The local shopping centre is situated near this cemetery.