In recent years Darlinghurst has been the central focus of the real estate industry. In 2018 this market has now slowed in most corners of the suburb and in other areas, remained the same.
When looking at the overall growth of the property market in Darlinghurst it is important that we look at the most recent quarterly growth in relation to overall growth for the year. The current median housing price is $1,955,000 with a quarterly growth of 1.56% and an overall average annual growth of 8.72%.
Pictured above: Left - East Village Hotel | Right - Slims Rooftop
The same can’t be said for unit prices. In the most recent quarter, unit prices have fallen 5.15%, with an annual average growth of 6.01%. Although growth is still on the up, it has slowed. As a result, the return on investment for rental properties is more difficult to achieve.
The demographics of Darlinghurst show a gradual increase of young single people moving to the area. Renters from this demographic are savvy to the market and demand more for their dollar. Something for all property owners to be aware of in the coming months.
The SydneyLinks team
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