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...
MARAYONG, 2148 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling MARAYONG, 2148 values up and netting property investors a capital gain of 21.77% for the past year.
Investors saw the median home price rise to $847,500.
Profits due to an upward trend in home prices in the suburb averaged 8.27% per annum over a 3-year period.
MARAYONG now ranks at the 753rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in MARAYONG are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $410 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MARAYONG, homes and units usually stay on listing for an average of 26.5 days.
In 2016, 119 properties were sold in MARAYONG during the past year, making it the 1413th most active market in NSW based on total real estate transactions.
Marayong is a quiet suburb in the local government area of the City of Blacktown. It is situated 38 kilometres from Sydney’s central business district.
Deemed a hidden gem by its residents, Marayong is a peaceful suburb that’s popular among first-time home buyers and families who want a safe neighbourhood for their kids. Residents rave about the warm and welcoming ambience of the Marayong local community where neighbours are friendly and security is not a problem.
Marayong is close to a wide array of amenities both within and outside the suburb (Blacktown is just a drive away), and one has a choice of both private and public schools to enrol in. The train station is nearby and transportation is overall efficient. Driving to Sydney by car takes no more than an hour.
Marayong’s real estate prices are amenable to first-time home buyers as both property developers and the government offer first home owners’ grants for their perusal. NSW properties are noticeably climbing in terms of value and price, thus the government and realtors understand that home buyers need all the help they can get.
With or without these grants, however, Marayong’s property market is still inexpensive. A three-bedroom home with a spacious backyard is within reach, in comparison to what buyers can get in other suburbs.
Another advantage of living in Marayong is that it is one of the most affordable suburbs included in the National Broadband Network, which means residents get to benefit from a reliable internet connection. The suburbs of Berala, Blacktown, Regents Park, Mount Pritchard and Lurnea are also included in the same network.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.77%||N/A|
|Median 3 years||24.82%||N/A|
|Median 5 years||30.89%||N/A|
|10 years average annual||9.22%||29.86%|
|Weekly media advert. rent||$410||$380|
|Time on Market||26.5 days||48.4 days|
|Gross Rental Yield Percent||2.52%||2.71%|