Investment property in Artarmon has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.00%
Taking the average capital gain, or increase in median house value, Artarmon,2064 has racked up an average of 0.00% over the period. This ranks it number 1952th in the whole country for real estate investors looking at median house price increases.
Artarmon, 2064 is offering NSW ‘s 749th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this NSW.
Often selling an investment property can take time, and in Artarmon the average time real estate has been on the market is 26.25 days.
Using the current median advertised rental of $0 and the average annual increase in value of a median property of 4.26%, investors should hope to achieve an overall return of 0.00%
If you compare the increase in value of investment property in Artarmon, 2064 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 15.31%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Artarmon has increased when compared to the 5 year average annual rate.
Property buyers and investors in Artarmon 2064 should be seeing an average reduction in asking price of around -4.23% . This means that Artarmon is holding prices well when compared to other suburbs in NSW.
On average over the past year, suburb has had 10.92 sales per month, which equates to 131 per year.
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Information supplied by:
November 2018
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Renters may be priced out
Postcode: 2064
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.