Cromer

POSTAL CODE: NSW, 2099

HOUSE

UNIT

Property investors have seen a 3.21% gain in CROMER based on an increase in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains CROMER, 2099 saw average growth in the long term.

The NSW suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $2,506,000

Profits averaged 6.33% per annum over a 3-year period, due to an upward trend in home prices in CROMER, 2099.

This means, real estate investors could earn a rental income of $1300 based on current median home prices for the suburb.

The gross rental yield in CROMER, 2099 is 2.7%.

An average of 6.83 real estate transactions take place per month in CROMER which translates to 82 per annum.

Property investments in CROMER did not fare well against the rest of the country last year, registering a median home price decrease of -5.6%.

Figures from the previous quarter show that capital gains for real estate buyers in CROMER are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains CROMER, 2099 saw average growth in the long term.

This means, real estate investors could earn a rental income of $740 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In CROMER, homes and units usually stay on listing for an average of 61.7 days.

the NSW suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $830,000

Investors saw the median home price rise to $830,000.

CROMER ranks 184th on the list of best yielding suburbs for rental properties in NSW, posting a 4.64% return.

Surburb overview

Cromer is a suburb in the Northern Beaches region, located approximately 20 kilometres northeast of Sydney's central business district. According to the 2021 Census, it has a population of roughly 8,030.

Cromer's Public transport includes bus routes connecting the suburb to major hubs such as Warringah Mall, Manly, and the Sydney CBD. The 179 bus route, operated by Keolis Downer Northern Beaches, runs between Warringah Mall and the War Veterans retirement village, serving the residents of Cromer.

The suburb offers several parks and recreational areas, including Cromer Park, Truman Reserve, and Dee Why West Recreation Reserve. These green spaces provide residents with opportunities for outdoor activities such as rugby league, soccer, and cricket.

Educational facilities in Cromer include Cromer Public School, catering to primary education, and Northern Beaches Secondary College, Cromer Campus for secondary education.

In terms of housing, Cromer features a mix of residential properties, predominantly separate houses. The median house price is approximately $2,272,500, with an annual capital growth of 12.78%. Rental yields for houses are currently around 2.97%, with a median rent of $1,200 per week.

Cromer offers a blend of residential living with access to essential services and recreational activities, contributing to its appeal as a Northern Beaches suburb.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$2,506,000	$830,000
Growth Report
Median Quarterly	3.21%	-9.78%
Median 12 month	8.96%	-5.6%
Median 3 years	19.33%	-7.78%
Median 5 years	48.28%	27.69%
10 years average annual	7.54%	2.19%
Weekly media advert. rent	$1,300	$740
Time on Market	39.6 days	61.7 days
Gross Rental Yield Percent	2.7%	4.64%

Demographics (Median Values)*

Total Population 39925

Weekly Household Income 1805

Household Size 2.60

Average Age 38

Monthly Loan Repayment 2400

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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