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 $1,050,000.
Profits due to an upward trend in home prices in the suburb averaged 3.47% per annum over a 3-year period.
NARWEE now ranks at the 758th 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 $600 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 64.7 days.
In 2016, 41 properties were sold in NARWEE during the past year, making it the 486th most active market in NSW based on total real estate transactions.
NARWEE ranks 336th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
NARWEE, 2209 has a capital gain of 17.86% for the past year, which is higher than average compared to its 55.66% growth within a five-year period.
NARWEE, 2209 ranks 191st on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 17.86% for property investors last year.
With the median home price in NARWEE sitting at $660,000, and the average rent at $417.5, property owners could potentially earn a 3.29% increase in gross rental yield.
Property investors have seen a 1.54% gain in NARWEE based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on NARWEE, 2209 can rest assured about this NSW suburb's performance. The suburb saw median home prices rise by 17.86%.
A survey of average capital gains or median home price increase in suburbs across the country shows that NARWEE, 2209 obtained a 9.45% growth over a ten-year period. It ranks 21st on our list of suburbs that property investors should look into.