Auctions for the March Quarter
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If you like a variety of cafes, great food restaurants and are a patron of the arts, the south-west Sydney suburb of Newtown may be right for you. Four kilometres from the CBD, this is certainly a suburb to watch.
Newtown is known for its many terrace houses, there are also plenty of apartments with free-standing house close making up a smaller portion of housing.
Though, in line with much of Sydney, property values and rent have increased substantially in recent times.
With great amenities and transport this is definitely a desirable suburb to dwell currently. Newtown Station, for example, is on King Street.
Enmore Road and King Street provide the main attractions in this suburb. Fun bars and a diverse number of eateries cater to those that live here, including University of Sydney students.
The Enmore Theatre is another staple of Newtown, hosting live comedy and music.
Street art and performers are also a famous staple and add to the unique culture and feel of the suburb.
The mean average cost to purchase a home is house $1.4 million and for a unit is $711,000, making it on the cheaper side of Sydney property market scale. These prices have steadily increased in the last 10 years, with houses seeing nearly a double in value.
Renting in Newtown sees an average cost of $790 per week for a house and $480 for a unit, also quite cheap as there is a need to cater to students.
If you are looking for an investment property, annual rental yields for houses of 2.9% and for units, a rental yield of 3.5% are the sort of returns an investor could expect.
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