With a capital gain of 5.92% for the last 12 months, Mortdale, 2223 has performed for property investments than its average annual 6.13% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mortdale has increased when compared to the 5 year average annual rate.
With the median price for a house in Mortdale being $1226000 and the advertised rent reaching $600 the gross rental yield for property investors calculates out to be 2.54%
At number 977th in the list of Australian suburbs ordered by increase in median house value over the last year, Mortdale, 2223 is in the BOTTOM 40% with a property value increase of 2.62% recorded in median house prices.
The five-year average increase in median property values for Mortdale,2223 has given property investors a potential capital gain of 1.50% across each of those five years.
The most recent median price for Mortdale is $608000, with sellers offering an average of -2.91% off the asking price.
Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.94%, investors should hope to achieve an overall return of 3.34%
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Mortdale, NSW – Vacancies plummet
Postcode: 2223
Median house price: $1,073,000
Vacancy rate: 1.3%
Three-year growth: 1.2%
Drive around 45 minutes south of the Sydney CBD, and you’ll reach the suburb of Mortdale in the St George district. While it is mainly residential, it is well supported by commercial establishments and industrial developments. Mortdale’s streets also share names with those in the CBD.
There are several schools in the suburb, including Mortdale Public School, Marist College Penshurst and Carinya Special School. Mortdale Memorial Park is a historical landmark and a well-known open space – it is one among the suburb’s many parks. Georges River, Lime Kiln Bay and Dairy Creek border the suburb as well.
In the past 12 months to July 2019, prices have fallen along with rental vacancies.