NSW has seen average median house prices change by -2.98% which means that Fairlight, 2094 has not done well for property investors by showing a capital gain of -6.38% over the last year
Comparing Fairlight,2094 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Fairlight is giving property investors an average Vendor Discount of around -3.78%. This puts suburb at number 849th in NSW when ranking the most discounted suburbs.
Residents and property investors in Fairlight have been waiting around 59.35 days to sell a property.
Property investors who have had real estate in Fairlight, 2094 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 1.38%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Fairlight has increased when compared to the 5 year average annual rate.
At number 167th of NSW’s most discounted properties, Fairlight is in the middle of the state/territory when listing in order of most discounted to least.
Residents and property investors in Fairlight have been waiting around 43.359 days to sell a property.
A $720 per week rent on the median house gives suburb investors a gross yield of circa 3.09%, without taking into account capital value appreciation, which has been averaging out at 7.15%.
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Suburb with a view looks at a bright future
Median unit price: $1,250,000
Three-year growth: 49.70%
Rental yield: 3.10%
Near the shore, the suburb of Fairlight displays a strong growth trend, indicating its long-term potential.
The suburb, which sits between Balgowlah and Manly, has an average annual growth rate of 7.8%. The price hike in the past year reached nearly 24%, and the median unit price has been recorded at $1,250,000. This is likely attributed to Fairlight being just 13km from the Sydney CBD.
Investors won’t get remarkably high yields from renting out apartments, but sellers will enjoy being able to get interested buyers even at a discount rate of just 3.72%. The spike in demand is clearly evidenced by the sharp drop in the average vacancy rate to 1.56%.
Fairlight Beach is part of the Manly Scenic Walkway, and is a well-known swimming and snorkelling destination. Spectators can also watch yacht races from this spot. Sydney Road houses Fairlight’s shopping hub.