The vendor is now accepting offers from $359,950 on this 2-bedroom apartment located in Fairfield. This has been reduced from $374,950.00 when it was originally advertised in May 2022. The vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale. The apartment currently has a tenant in place on a lease for 6 months.
According to Sam Kourouche from Professionals Real Estate - Fairfield; the apartment is located next to cafe's, public transport and the school and leisure centre. The second floor unit comprises of two bedrooms, one bathroom and features two balconies.
Now, let’s look at the numbers to gauge the property's financial appeal. Over the last 12 months, the vacancy rate for postcode 2165 has decreased to 1.4% in June 2022 from 3% in June 2021. Asking sales prices for units have decreased 9.9% over the last 12 months to 28 June 2022. The gross rental yield on units currently sits at 4.7%.
However, asking rents for units in postcode 2165 have increased over the year by 7.5%. You can view recent sales in 2165 here. 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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