The post-budget guide to commercial property investing

Millers Point

POSTAL CODE: NSW, 2000
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Property investors have seen a 2.96% gain in MILLERS POINT based on an increase in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains MILLERS POINT, 2000 saw average growth in the long term.

MILLERS POINT, 2000 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,650,000.

Profits due to an downward trend in home prices in MILLERS POINT, 2000 averaged -2.43% per annum over a 3-year period.

This number can mean, real estate investors could earn a rental income of $1300 based on current median home prices for the suburb.

The gross rental yield in MILLERS POINT, 2000 is 4.1%.

An average of 2.58 real estate transactions take place per month in MILLERS POINT which translates to 31 per annum.

Surburb overview

Millers Point, NSW 2000, is a historic suburb adjacent to The Rocks and Barangaroo on the north-western edge of Sydney’s central business district. The suburb is known for its heritage buildings, many of which date back to the 19th century, and offers a unique mix of old-world charm and modern living. Millers Point is a relatively small area, covering approximately 0.2 square kilometres, and is characterised by its proximity to Sydney Harbour.

As of the 2016 census, Millers Point had a population of 1,478, with a median age of 47. Most of the population comprises professionals, and the suburb’s demographic is primarily couples without children. The suburb has a high proportion of properties, with 62.8% of homes being rented and a median weekly rent of $1,295 for units. Most of the housing in Millers Point consists of high-end units and apartments.

The suburb is well-served by public transportation, with train stations and bus services, and the nearby Walsh Bay Wharves provide easy connectivity. Millers Point is highly walkable, with 51% of residents choosing walking as their primary mode of transport. The median monthly mortgage repayment in Millers Point is approximately $3,580.

Millers Point has several heritage-listed sites, including the Grafton Bond Store on Hickson Road, the Walsh Bay Wharves Precinct, and the historic Lord Nelson Hotel on Kent Street. The area is also rich in recreational activities and cultural attractions, with numerous parks and access to waterfront views along Sydney Harbour.

This blend of heritage significance, waterfront views, and proximity to Sydney’s CBD makes Millers Point an attractive suburb for those seeking a unique residential experience in the heart of Sydney.

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