Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
Property investors enjoyed capital gains of 12.93% over the last 12 months in CROYDON, translating to lower returns compared with its peers in NSW.
A survey of average capital gains or median home price increase in suburbs across the country shows that the NSW suburb obtained a 9.39% growth over a ten-year period. It ranks 199th on our list of suburbs that property investors should look into.
CROYDON, 2132 has a capital gain of 12.93% for the past year, which is higher than average compared to its 30.29% growth within a five-year period.
With the median home price in CROYDON sitting at $2,006,500, and the average rent at $650, property owners could potentially earn a 1.68% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in CROYDON are low, as opposed to average gains per annum over the past five years.
CROYDON, 2132 in NSW belongs to the local government area of Burwood (A).
Bordering the suburbs of Burwood on the east and Ashfield on the west, the affluent suburb of Croydon isn’t usually on the itinerary of travellers and local motorists. However, things are looking up for the once “drive by” suburb as prime real estate and multi-family properties crop up in the area, providing variety to the Federation or California bungalow-style homes that still comprise majority of its residential real estate.
Conveniently located within 11 kilometres of Sydney’s central business district, Croydon ranks high on real estate authorities’ list of Sydney suburbs for its wide access to jobs, schools, retail centres and public facilities. Croydon also boasts of leisure and entertainment spots, such as the Valley Retail Park and Croydon Cinemas, that have something to offer to residents, both young and old.
Median home price growth
The price of houses for sale in Croydon has substantially increased in the past five years by as much as 76.44 per cent. This translates to no less than a million dollar per property, on average, though fortunate buyers can land a good deal for a town house at an estimated $300,000. The average home price in Croydon is $1,520,000, while units sell for $744,000.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||12.93%||-0.65%|
|Median 3 years||40.81%||7.44%|
|Median 5 years||30.29%||2.55%|
|10 years average annual||9.39%||5.4%|
|Weekly media advert. rent||$650||$440|
|Time on Market||82.9 days||57.8 days|
|Gross Rental Yield Percent||1.68%||2.99%|