Auction ban drives up withdrawal rates
The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...
Property investors enjoyed capital gains of 0.62% over the last 12 months in NEW LAMBTON, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in NEW LAMBTON are low, as opposed to average gains per annum over the past five years.
The suburb posted a 14.51% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $470 based on current median home prices for the suburb.
On average, rents on listings have reached the $470 mark, reflecting a 3.35% increase in returns based on the current median price in NEW LAMBTON.
NEW LAMBTON, 2305 ranks 924th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 499th on the list of best yielding suburbs for rental properties in NSW, posting a 3.35% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $730,000 | $442,500 |
| GROWTH REPORT | ||
| Median Quarterly | -0.68% | 3.81% |
| Median 12 month | 0.62% | -2.21% |
| Median 3 years | 14.51% | 6.63% |
| Median 5 years | 32.73% | 21.23% |
| 10 years average annual | 7.21% | 4.51% |
| Weekly media advert. rent | $470 | $347.5 |
| Time on Market | 63.3 days | 78.1 days |
| Gross Rental Yield Percent | 3.35% | 4.08% |
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