This 1-bedroom apartment located in the heart of Homebush has been reduced, with the vendor now accepting offers from $490,000. This has been reduced from $545,000 when it was last sold in November 2016. The vendor is keen to sell and is hoping the reduced price will attract buyers.
According to Lisa Leong from Realty; the open-plan 1 bedroom apartment provides the owner with an internal laundry, lots of storage and a large balcony. Within walking distance of the building is Homebush Public School, public transport, shops and restaurants.
Now, let’s look at the numbers to gauge the property's financial appeal. Over the last 12 months, the vacancy rate for postcode 2140 has decreased to 2.8% in April 2022 from 6.5% in April 2021. Asking sales prices for units have increased by 0.7% over the last 12 months to 20 April 2022. You can view recent sales in 2140 here.
However, Asking rents for units in postcode 2140 have increased over the year by 9.6%.The gross rental yield on units currently sits at 4.1%. Given these figures, arm yourself with the latest market research, enabling you to possibly drive a harder bargain with the seller, who is clearly keen to get this property off their hands.
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