Bondi Junction apartment rentals yields investors $650 median a week

Apartments in Bondi Junction are securing a median gross yield of 4.1%, the latest data from propertyvalue.com.au shows.

The median selling price of units in the Sydney eastern suburb sits at $819,000, with a median price change up 18 percent annually.

The median apartment rental was $650 per week, placing the suburb at 40th across NSW.

Up for grabs currently is an executive apartment at 1003/80 Ebley Street with a price tag of $895,000 through Stella Gankin and Marina Makhlin of R&W.

The one-bedroom unit and study is currently used as a furnished executive rental averaging $1,000 per week with an occupancy between 80%-86% per year.

Median rentals in Bondi Junction have grown steadily over the last decade, nearly doubling from $330 in 2005. 

Over the last 12 months, 130 units have sold in the area averaging about 23 days on the market, data from propertyvalue.com.au shows.

Bondi Junction is spread over an area of nearly one square km and its population has grown at a rate of 7% over a five-year period from 2006 to 2011, data from the Australian Bureau of Statistics shows. In 2011, it had a population of more than 8,600.

Owner-occupied homes in the suburb fell slightly to 46.4% in 2011 from 48 percent in 2006, the data showed.