Ourimbah

OURIMBAH, 2258 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 OURIMBAH, 2258 values up and netting property investors a capital gain of 8.23% for the past year.

Investors saw the median home price rise to $782,500.

Profits due to an upward trend in home prices in the suburb averaged 2.89% per annum over a 3-year period.

OURIMBAH now ranks at the 511th 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 $440 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 43.7 days.

In 2016, 48 properties were sold in OURIMBAH during the past year, making it the 406th most active market in NSW based on total real estate transactions.