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Forestville

POSTAL CODE: NSW, 2087
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FORESTVILLE ranks 967th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 8.7% for the past year is lower than average compared to its 45.43% growth within a five-year period.

Also in FORESTVILLE, the median home price is sitting at $2,500,000, and the average rent at $1250, this suggests property owners could potentially earn a 2.6% increase in gross rental yield.

Property investors have seen a 2.25% gain in FORESTVILLE based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 6.61% growth over a ten-year period. It ranks 2237th on our list of suburbs that property investors should look into.

Surburb overview

Part forest and part beach, Forestville truly has the best of both worlds for lovers of the great outdoors. Residents find comfort in the lull of Forestville, with the oceanfront and native bushlands within reach.

Forestville was all bushland half a century ago and residents had to rely on horses and carts to transport building materials for their home. These home owners didn’t expect that the suburb would grow massively, let alone make millions from their properties. However, despite the appearance of new housing developments, world-class facilities, shopping centres and similar lifestyle blocks, Forestville’s quiet ambiance hasn’t changed. Residents are delighted to go home to the same neighbourhood where kids can cycle along streets safely, and the neighbours are affable.

Investing in Forestville

Forestville is indeed a rarity in terms of rising property values as it separates itself from the rest with over 90 per cent gains in the past five years. Many of Forestville’s residents have become millionaires overnight after reselling their homes to deep-pocketed buyers, as the median home price has reached just a few thousands shy of $1.6 million. Unit costs are also on an uptrend, growing by nearly 70 per cent during the same period.

Real estate authorities forecast that apartment blocks and boarding houses would be more common in the suburb to provide alternative living options to future residents. Old properties in Forestville are being considered for rezoning, such as a local high school that will be turned into a medium-density development and a known hospital.

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