Regional tows in NSW have been flagged for growth by a number of leading property experts, according to Smart Property Investment’s Fast 50 report.
The town of Mudgee, in central west NSW, was selected as a top performer for 2012 by NextHotSpot directRegional tows in NSW have been flagged for growth according to Smart Property Investment’s Fast 50 report.or Luke Berry, who expects Mudgee’s population to grow significantly over the next five years.
“With a possible six resources projects opening up in the next three to five years in the Mid-Western Shire, and around 2,000 new jobs to add to the existing 11,000, Mudgee expects its population to grow by around 6,000, or 25 per cent, over that time,” Mr Berry said.
“The town is affordable, with median house pricing around $300, 000,” he said.
“It’s a lovely place to visit and to live, so the local tourism is also up.”
The median house price in Mudgee is $320,000 while the median unit price is $240,000.
Both houses and units in the town command an average gross rental yield of 6 per cent, according to RP Data.