‘Great buying opportunities’ for careful investors looking at new-builds
Situations like Sydney’s Opal Tower fiasco have buyers cautious of the new-build market, but there are bargains to be had for those who ar...
NARWEE, 2209 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 $1,034,000.
Profits due to an upward trend in home prices in the suburb averaged 0.94% per annum over a 3-year period.
NARWEE now ranks at the 1100th 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 $560 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 59.1 days.
In 2016, 39 properties were sold in NARWEE during the past year, making it the 517th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,034,000 | $650,000 |
| GROWTH REPORT | ||
| Median Quarterly | -3.81% | N/A |
| Median 12 month | -2.18% | 10.64% |
| Median 3 years | 2.83% | 17.75% |
| Median 5 years | 46.15% | 36.13% |
| 10 years average annual | 7.11% | 9.06% |
| Weekly media advert. rent | $560 | $420 |
| Time on Market | 59.1 days | 46.4 days |
| Gross Rental Yield Percent | 2.82% | 3.36% |
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