Property investors who have had real estate in Artarmon, 2064 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -5.86%
When looking at the potential capital gains offered to property investors over the last 3 years, Artarmon comes in at number 1071th in NSW.
In the last year 31 properties changed hands in Artarmon, which puts it as the 800th most active market in NSW when comparing the number of sales per suburb.
With the median price for a house in Artarmon being $2410000 and the advertised rent reaching $1050 the gross rental yield for property investors calculates out to be 2.27%
Over the last year, property investments in Artarmon, 2064 have given investors a capital gain of -4.21%. This compares averagely with the -3.67% for NSW as a whole.
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.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Artarmon, 2064. Typically our figures indicate that -7.75% is being offered, which puts this NSW suburb at 274th most discounted overall in Australia.
A $600 per week rent on the median house gives suburb investors a gross yield of circa 3.51%, without taking into account capital value appreciation, which has been averaging out at 5.85%.
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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.