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 5.11% for the past year.
Investors saw the median home price rise to $720,000.
Profits due to an upward trend in home prices in the suburb averaged 16.93% per annum over a 3-year period.
OURIMBAH now ranks at the 412th 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 $475 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 42.5 days.
In 2016, 72 properties were sold in OURIMBAH during the past year, making it the 166th most active market in NSW based on total real estate transactions.
OURIMBAH ranks 186th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
OURIMBAH, 2258 has a capital gain of 8.85% for the past year, which is lower than average compared to its 60.14% growth within a five-year period.
With the median home price in OURIMBAH sitting at $450,000, and the average rent at $355, property owners could potentially earn a 4.1% increase in gross rental yield.
A survey of average capital gains or median home price increase in suburbs across the country shows that OURIMBAH, 2258 obtained a 7.12% growth over a ten-year period. It ranks 332nd on our list of suburbs that property investors should look into.