At number 1326th in the list of Australian suburbs ordered by increase in median house value over the last year, Sydney Olympic Park, 2127 is in the BOTTOM 20% with a property value increase of -10.03% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Sydney Olympic Park has fallen somewhat 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 Sydney Olympic Park, 2127. Typically our figures indicate that -8.40% is being offered, which puts this NSW suburb at 101th most discounted overall in Australia.
A $570 per week rent on the median house gives suburb investors a gross yield of circa 4.23%, without taking into account capital value appreciation, which has been averaging out at 2.16%.
Information supplied by:
Sydney Olympic Park, NSW – Unit supply falls
Median unit price: $764,000
Stock on market: -26.7%
12-month growth: -3.7%
Sydney Olympic Park was initially developed for the Sydney Olympic Games held in 2000, but it has become an official suburb within the Greater Sydney region. In the two decades since the end of the Games, the suburb has become a bustling commercial hub.
Sydney Olympic Park is 15km from the CBD, and retains many of the sports and entertainment facilities constructed for the Games, making it a destination for major events including music festivals, the Sydney 500 and the Sydney Royal Easter Show. There is also a wealth of parklands in this area; following a period of redevelopment, Blaxland Riverside Park is now an urban park while playground facilities were added to Wentworth Common.