The biggest mistakes first-time investors can make
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Based on its average 5-year and quarterly capital gains NORTH SYDNEY, 2060 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that NORTH SYDNEY, 2060 obtained a 7.07% growth over a ten-year period. It ranks 1011th on our list of suburbs that property investors should look into.
NORTH SYDNEY, 2060 in NSW belongs to the local government area of North Sydney (A).
NORTH SYDNEY, 2060 has a capital gain of -22.16% for the past year, which is lower than average compared to its 49.63% growth within a five-year period.
With the median home price in NORTH SYDNEY sitting at $2,020,000, and the average rent at $1100, property owners could potentially earn a 2.83% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in NORTH SYDNEY are low, as opposed to average gains per annum over the past five years.
With a thriving commercial district and laid back atmosphere, North Sydney is an ideal destination for investors looking to expand their real estate portfolio and families seeking a new home without straying too far from the trappings of a modern city life. Located on the Lower North Shore of Sydney, North Sydney is home to high-rise commercial properties, as well as museums, sports clubs, and several shopping complexes while serving as the seat of power for the local government.
The area has a population of 6,057, with a median age of 34. A huge portion of its workforce is made up of young professionals hailing from the advertising, marketing, printing and publishing, and information technology sectors. Most properties are rented units, apartments, and flats, with the occasional 19th century homes and classic churches breaking the monotony. The area has no shortage of universities and schools run by well-recognized academic organizations.
Investments continue to pour into North Sydney's real estate environment as foreign companies snap up rental properties in its commercial district. The outlook is favourable for buyers flipping both old and new office towers, as office market fundamentals and rental growth remain strong. Technology behemoths such as Cisco Systems, Sun Microsystems, Symantec, and Optus are among these buildings' current inhabitants.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,020,000 | $980,500 |
| GROWTH REPORT | ||
| Median Quarterly | -15.76% | -3.64% |
| Median 12 month | -22.16% | -0.96% |
| Median 3 years | 11.11% | 12.19% |
| Median 5 years | 49.63% | 32.5% |
| 10 years average annual | 7.07% | 7.36% |
| Weekly media advert. rent | $1100 | $640 |
| Time on Market | 66.3 days | 54.0 days |
| Gross Rental Yield Percent | 2.83% | 3.39% |
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