Growth & Data
In general, the property market in the CBD of Sydney has remained steady over the years. Current market changes indicate this steady stream of market growth is continuing to develop in 2019.
As you would expect in the city, there are a very low number of total houses in Sydney, totalling 45, compared to a much higher figure of 14,773 total apartments in the city. To gauge market growth we need to look at the apartment sales figures for proper, valuable data evaluation.
The most obvious figure we can look at is total population growth. In a size of approximately 3 square metres, Sydney’s population has grown from 14,307 people in 2011 to 17,261 in 2016, a total population growth of 20.6% in five years.
As our Principal Agent, Trisiana Muljono reads, “Rental-yield for property owners of apartments in Sydney’s CBD is up. This is very encouraging for the buyers market”.
Because of the new promise of higher rental yields in the city, buyers are now hungry for a buy in the city to take advantage of this new trend.
“In previous years we haven’t seen such promising figures for rental-yield in the city. People tended to buy more around the city rather than in it,” says Trish. “People are coming back to the city and we are renting more quickly too. It is common for us to lease a property within three days in the city”.
The SydneyLinks team
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