4 Property Market Trends To Expect In 2022
The impacts of COVID-19 are expected to continue to sway the property market in the year ahead, even as the country’s ...
Property investors in MACQUARIE PARK enjoyed capital gains of 6.4% 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 MACQUARIE PARK are low, as opposed to average gains per annum over the past five years.
MACQUARIE PARK posted a 22.82% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
Real estate investors could earn a rental income of $450 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $450 mark, reflecting a 2.56% increase in returns based on the current median price in MACQUARIE PARK.
MACQUARIE PARK, 2113 ranks 291st in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
MACQUARIE PARK ranks 558th on the list of best yielding suburbs for rental properties in NSW, posting a 2.56% return.
Macquarie Park is witnessing an unprecedented expansion, supported by its government’s vision to make it the fourth-largest central business district in the country and an influx of foreign money. Awash with investments from Chinese property developers with a big appetite for commercial and mixed-use properties, Macquarie Park has sold out several units in its upcoming developments, while its old reserves and apartment buildings are swept off the market for redevelopments.
Though largely composed of people from younger generations, Macquarie Park’s demographics will become even more diversified as it attracts retirees and families who wish to live near Sydney’s CBD. Some mature buyers have purchased units in Macquarie Park to rent them out prior to their retirement. Meanwhile, families are drawn to Macquarie Park’s focus on balancing out its cityscape with relaxing walking and cycling paths, and communal areas.
Commercial and residential real estate profile
Macquarie Park has a large shopping centre, various choices of accommodations, entertainment hubs, indoor and outdoor sports facilities, parks, and food and beverage outlets. Its hospital is located inside Macquarie University.
Majority of the existing real estate in Macquarie Park is made up of apartment blocks where students of Macquarie University, professionals working in the CBD and locals take up residence. New apartment and condominium complexes have been constructed in recent years, which remedied the lack of housing in the area. The instalment of a new railway station in 2009 paved the way for such developments.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||6.4%|
|Median 3 years||N/A||22.82%|
|Median 5 years||N/A||33.48%|
|10 years average annual||N/A||7.75%|
|Weekly media advert. rent||N/A||$450|
|Time on Market||N/A||96.1 days|
|Gross Rental Yield Percent||N/A||2.56%|