Kirribilli,2061 was ranked 361 in Australia by increase in median property value over the quarter.
A $950 per week rent on the median house gives suburb investors a gross yield of circa 1.39%, without taking into account capital value appreciation, which has been averaging out at 25.60%.
Investment property in Kirribilli has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 20.89%
Taking the average capital gain, or increase in median house value, Kirribilli,2061 has racked up an average of 20.89% over the period. This ranks it number 56th in the whole country for real estate investors looking at median house price increases.
Situated 2.28km from the CBD, Kirribilli is one of North Sydney (A) localities in the postcode 2061.
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While the voting public may be put off by the revolving door in the office of the prime minister, the fact that removalists’ trucks are a common sightoutside of Kirribilli House doesn’t seem to be affecting real estate in the harbourside suburb.
The median unit price currently sits at $1.1m and could reach even higher soon if recent trends are anything to go by.
The past five years have seen the median increase by an impressive 63%.
While affordability may not be at its best in Kirribilli, that doesn’t seem to have had much of an impact on sales.
The past 12 months have seen 72 units sold, and on average units are spending only 39 days on the market.
While it may be on the north side of Sydney Harbour, Kirribilli does offer easy access to Sydney CBD, thanks to the fact that it’s serviced by the Milsons Point train station and the Jeffrey Street Ferry wharf.