‘Zero spread’ opens up property-buying opportunities
Property investment is set to gather pace as first home buyers and investors alike are tempted into a “zero spread” environment, thanks ...
OURIMBAH, 2258 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 $737,500.
Profits due to an upward trend in home prices in the suburb averaged 11.28% per annum over a 3-year period.
OURIMBAH now ranks at the 159th 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 OURIMBAH 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 $450 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 OURIMBAH, homes and units usually stay on listing for an average of 93.0 days.
In 2016, 28 properties were sold in OURIMBAH during the past year, making it the 677th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $737,500 | $433,750 |
| GROWTH REPORT | ||
| Median Quarterly | 2.79% | 2.06% |
| Median 12 month | 2.08% | 6.31% |
| Median 3 years | 33.85% | 18.03% |
| Median 5 years | 58.6% | 49.57% |
| 10 years average annual | 8.28% | 7.05% |
| Weekly media advert. rent | $450 | $380 |
| Time on Market | 93.0 days | 42.7 days |
| Gross Rental Yield Percent | 3.17% | 4.56% |
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