Giving property investors a a stable capital gain of 14.15% for the last year, North Sydney, 2060 is the 1044th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, North Sydney comes in at number 890th in NSW.
With the median price for a house in North Sydney being $2117500 and the advertised rent reaching $995 the gross rental yield for property investors calculates out to be 2.44%
Property value increases in North Sydney have tracked just higher than the NSW average of 8.39% over the last 12 months.
Across a shorter period, North Sydney, 2060 has seen a median price increase of -2.94% over the last quarter.
North Sydney2060 is located in NSW which offers an average discount of -4.11% to property investors. North Sydney itself is showing figures that indicate -3.87% is the average achievable by property buyers investing in the suburb.
North Sydney, 2060’s gross rental yield is 3.34%
Home to Sydney’s world famous Harbour Bridge and boasting some of the most prestigious waterfront property in Australia, North Sydney is a thriving commercial hub 3km north of Sydney’s CBD. This suburb is still displaying consistent growth despite the high level of supply, indicating that thus far, demand could still be absorbing stock.Full summary
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NORTH SYDNEY, NSW – Business hub commands growth despite glut of units
Median house price: $1,912,500
Stock on market: 102.1%
12-month growth: 12.3%
The suburb of North Sydney could be one reason why some experts fear an oversupply in the capital.
According to Real Estate Investar, the amount of stock on market shot up by over 100%. The majority of the new supply consists of units, which went from 44 in 2015 to 90 as of November 2016. The vacancy rate of this period reflects the effect of this influx, as it skyrocketed from an already-high 6.4% to 7.7%.
Nonetheless, North Sydney is still displaying consistent growth despite the high level of supply, indicating that thus far, demand could still be sustaining it. CoreLogic data indicates that over the past 12 months, prices in this suburb increased by a staggering 12.3%, bringing the median house price to almost $2m. This is likely attributed to North Sydney’s very short distance from the CBD and status as a commercial district.Close