If you compare the increase in value of investment property in Artarmon, 2064 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -4.80%.
When looking at the potential capital gains offered to property investors over the last 3 years, Artarmon comes in at number 1081th in NSW.
On average over the past year, suburb has had 1.92 sales per month, which equates to 23 per year.
Property investors should expect to get $1050 weekly from the median priced house in this suburb.
With a capital gain of -8.01% for the last 12 months, Artarmon, 2064 has performed for property investments than its average annual 5.95% property growth over the last 5 years.
Across a shorter period, Artarmon, 2064 has seen a median price increase of -2.57% over the last quarter.
The most recent median price for Artarmon is $890000, with sellers offering an average of -7.41% off the asking price.
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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.