With a capital gain of 18.12% for the last 12 months, Artarmon, 2064 has performed for property investments than its average annual 7.98% property growth over the last 5 years.
Artarmon,2064 was ranked 4012 in Australia by increase in median property value over the quarter.
On average over the past year, suburb has had 2.33 sales per month, which equates to 28 per year.
Using the current median advertised rental of $885 and the average annual increase in value of a median property of 7.98%, investors should hope to achieve an overall return of 1.48%
Property investors who have had real estate in Artarmon, 2064 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.53%
While Artarmon,2064 ranked number 136th in NSW for increase in median house value (annualised) increase, it is ranked 214th over the last 5 years.
Property investors looking for a bargain in Artarmon should be aiming for at least -5.21% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Artarmon the average time real estate has been on the market is 51.375 days.
Situated 6.86km from the CBD, Artarmon is one of Willoughby (C) localities in the postcode 2064.
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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.