Giving property investors a a solid capital gain of 19.50% for the last year, Artarmon, 2064 is the 216th highest performer in Australia in this respect.
Artarmon,2064 was ranked 219 in Australia by increase in median property value over the quarter.
On average over the past year, suburb has had 2.50 sales per month, which equates to 30 per year.
A $1025 per week rent on the median house gives suburb investors a gross yield of circa 1.85%, without taking into account capital value appreciation, which has been averaging out at 8.10%.
Artarmon is an average performer in NSW when comparing median price capital growth over the last year. Artarmon gave property investors a good capital gain figure when compared to the rest of the state, with 1.66%.
While Artarmon,2064 ranked number 133th in NSW for increase in median house value (annualised) increase, it is ranked 227th over the last 5 years.
Our latest figures would indicate that property sellers in Artarmon are currently offering property investors an average price cut of -7.41% below the asking price at the moment.
On average over the past year, suburb has had 8.42 sales per month, which equates to 101 per year.
Advertised rents are around the $590 mark per week – giving a return of 3.33% based on the median price in Suburb
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Renters may be priced out
Median unit price: $967,500
Rental vacancy rate: 6.6%
Three-year growth: 28.7%
A hub of media offices, the suburb of Artarmon is home to the offices of the Special Broadcasting Service and Fox Sports. It also used to house the offices of the Australian Broadcasting Corporation.
Artarmon is divided according to its industrial, commercial and residential uses. High-rise properties are located to the west of the railway line that stops at Artarmon Station, while houses are established on the eastern side. The industrial hub is located south of the Gore Hill Freeway. Artarmon also hosts a namesake fair annually in May.
High prices could contribute to why Artarmon’s rental vacancy rates have increased from 5.0% to 6.6% in the 12 months to August 2018. The average weekly rent rate comes in at $620 as apartment values inch closer to the $1m mark, with landlords gaining yields of only 3.3% on average.