Overseas investment in Zetland apartment yet to slow: HTW
The fringe Sydney suburb Zetland has become a very high density area with predominantly large unit complexes built within the past ten years, according to valuation firm Herron Todd White's latest report.
The November report suggested due to the high density and relative price points, investor demand has always been high.
"Large developers such as Meriton have a high presence in Zetland and although now starting to become established, there are still plenty of new unit complexes under construction.
"Overseas investors seem to be in the majority in Zetland especially of new order stock and may be less influenced by interest rates and APRA changes.
"We are yet to see any slowing in this sector of the market."
The HTW report goes on to show that the median unit sale price according to CoreLogic RP Data’s suburb statistic report rose from $795,000 in October 2014 to $885,000 in September 2015.
It also reports the indicated gross rental yield at 4.2% with a median asking rental price of $650 per week.
