Beverly Hills Property Factsheet 2nd Half 2018
Located 17km south of the Sydney CBD, Beverly Hills is a mainly residential suburb. According to ABS Census 2016 27.5% of occupied private dwellings in Beverly Hills are rented, an increase from 23.9% in 2011. This is good news for investors wanting to enter the rental market.
In Q3 2018, the median house price in Beverly Hills was $1,100,000 and the median unit price was $635,000. This represented an annual (Q3 2017 – Q3 2018) price softening of -9.7% for houses and a relatively stable price change of -0.8% for units. Across this same period, the combined Local Government Areas (LGAs) of Canterbury-Bankstown Council and Georges River Council saw a softening in median house price, by -11.7% to $1,000,000, and remained flat at $640,000 for units.
In comparison to the combined LGAs, houses in Beverly Hills attracts higher pricing whilst also being the more resilient market in terms of capital growth. Units in Beverly Hills are more affordable compared to the LGA.
Median rental prices in Beverly Hills* have
softened for houses in the 12 months to Q3 2018, currently at $555 per week. It
has remained stable for units, at $435 per week in Q3 2018. However, the
Beverly Hills rental market continue to remain in high demand, with the number
of properties rented increasing by +132.6% for houses and +97.1% for units.
Beverly Hills has a low vacancy rate of just 1.8% in June 2018, as well as
yields of 3.0% for houses and 4.1% for units. These levels are more conducive
for investment compared to the Sydney Metro area, positioning Beverly Hills as
a viable alternate investment option.