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NARWEE, 2209 delivered a stronger 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 NARWEE, 2209 values up and netting property investors a capital gain of 23.97% for the past year.
Investors saw the median home price rise to $1,350,000.
Profits due to an upward trend in home prices in the suburb averaged 13.54% per annum over a 3-year period.
NARWEE now ranks at the 774th 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 NARWEE 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 $590 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 NARWEE, homes and units usually stay on listing for an average of 47.8 days.
In 2016, 39 properties were sold in NARWEE during the past year, making it the 554th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.97%||31.43%|
|Median 3 years||40.63%||36.44%|
|Median 5 years||27.36%||34.17%|
|10 years average annual||8.3%||8.28%|
|Weekly media advert. rent||$590||$350|
|Time on Market||47.8 days||78.0 days|
|Gross Rental Yield Percent||2.27%||2.26%|