Stanmore has had a quite poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -12.25% to date .
While Stanmore,2048 ranked number 773th in NSW for increase in median house value (annualised) increase, it is ranked 912th over the last 5 years.
Advertised rents are around the $880 mark per week – giving a return of 3.16% based on the median price in Suburb
NSW has seen average median house prices change by -3.83% which means that Stanmore, 2048 has not done well for property investors by showing a capital gain of 2.29% over the last year
Stanmore,2048 was ranked 443 in Australia by increase in median property value over the quarter.
Advertised rents are around the $510 mark per week – giving a return of 3.66% based on the median price in Suburb
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Sydney suburb Stanmore has been one of the hottest locations in the inner west, particularly for families looking for larger properties than may be available closer to the city.
Stanmore is characterised by wide tree lined streets and a high proportion of houses – over half of properties are freestanding or terraced houses. Blocks are also typically bigger than are found elsewhere in the inner west, and many properties are older character homes. Indeed, new buildings cannot be over three stories high and must retain a facade in keeping with the heritage of the suburb, adding a scarcity factor to properties in Stanmore.
Amenity-wise, residents are spoilt for choice. Stanmore itself has a wide range of shops and eateries clustered around the junction between Salisbury and Percival Road. It’s also just minutes from the lifestyle centre of Newtown and within easy reach of Leichhardt and Haberfield. There are several public and private schools, and the Royal Prince Alfred Hospital is in nearby Camperdown.
It hits all the buttons for investors seeking the best of all worlds for attracting tenants. Access to the CBD is provided by both regular rail and bus services, with a train journey to the CBD taking less than 15 minutes. The presence of the University of Sydney, the Chippendale UTS campus and the Royal Prince Alfred Hospital also make Stanmore a good option for university staff, medical staff and students. It has a very high percentage of professional residents, and the average weekly household income is significantly higher than the NSW average at over $2,100pw.
The proximity of the university means there’s scope to mitigate the holding cost pain by renting properties out as student accommodation. There may also be possibilities to subdivide, renovate or otherwise develop existing properties to manufacture growth.