Parramatta has recently come up on the radar as good value to invest in units - Parramatta units have generally been seen as being in oversupply in recent years, with people tending to avoid it as an investment.
However if you look at recent data and trends, with median prices at $622,000, and rental yields sitting at 6%+, it's definitely somewhere worth looking at.
As shown in the PropertyDirector capital growth chart below, capital growth of units in Parramatta have been non-existent in the last 10-years, and have in fact diminished in value over the last decade.
However if you look at the rental yield report below, you will see that rental yields have increased significantly over the same period, from around 3.5% to over 6%.
With the excellent infrastructure and facilities already built (and continuing to be built) in Parramatta, now could be the perfect opportunity to get ahead of the market and secure a bargain price for a unit in Parramatta.
Days on market are sitting at 200+ days, so you could well negotiate excellent prices.
Vacancy rates have also reduced considerably since 2020, tightening up from 6% to around 2-3% today..
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