NSW’s First Moves On Stamp Duty Reform Revealed
NSW Premier Dominic Perrottet has released details of his planned reforms to stamp duty in the state, though the changes...
Property investors in SYDNEY enjoyed capital gains of 8.21% over the last 12 months translating to lower returns compared with its peers in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in SYDNEY are high, as opposed to average gains per annum over the past five years.
SYDNEY posted a 3.84% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
Real estate investors could earn a rental income of $600 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $600 mark, reflecting a 3.04% increase in returns based on the current median price in SYDNEY.
SYDNEY, 2000 ranks 357th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
SYDNEY ranks 430th on the list of best yielding suburbs for rental properties in NSW, posting a 3.04% return.
There's a lot to be said about Sydney central business district, and often times one finds himself or herself groping for words. Sydney is a mishmash of influences, as its nearly 5 million-strong population can attest, and it’s easy to lose yourself in its exuberance.
Its majestic harbourfront is touted as one of the best in the world and it also serves home to all the best beaches and gardens and timeless structures in the entire country. One needs only to look at the Sydney Opera House to know that Sydney takes its reputation as such seriously.
Best things to do in Sydney
Sydney doesn’t run out of things to do for its inhabitants and accidental tourists. For those who want to live it up in Sydney, the CBD has a plethora of high-end bars, cafes, restaurants, luxury retreats, and award-winning resorts to choose from. Shopping is a part of Sydney’s urban lifestyle and a large selection of shops are just waiting for tourists and residents at the Queen Victoria Building.
If cultural activities are your thing, then head over to the famed Sydney Opera House or get a panoramic view of the city from the peak of the Sydney Tower, its tallest building. Sydney is also known for its myriad art galleries, which showcase impressive works from both emergent and established visual artists in the country.
Need to declutter your mind? Visit Hyde Park and the Domain, which are both a few minutes walk from the city centre. Locals recommend spending an hour or two in these gardens.
Sydney real estate boom
First-home buyers who are interested to take advantage of the government's removal of stamp duty would have to opt for properties lying in Sydney's outer suburbs. Sydney is a red hot market and it is almost impossible for first-home buyers to purchase a property with the towering home prices to blame. For this reason, buyers who prefer to live within the city bounds may have to live at an area where they have to spend some 15 minutes of commute to the city centre.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||8.21%|
|Median 3 years||N/A||3.84%|
|Median 5 years||N/A||27.39%|
|10 years average annual||N/A||8.18%|
|Weekly media advert. rent||N/A||$600|
|Time on Market||N/A||75.5 days|
|Gross Rental Yield Percent||N/A||3.04%|