Schoolies season sparks warning to home owners
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $618,000.
The upward trend in home prices in NELSON BAY, 2315 averaged 7.22% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 3.79% increase in returns based on the current median price in NELSON BAY.
An average of 8.17 real estate transactions take place per month in NELSON BAY which translates to 98 per annum.
98 properties were sold in NELSON BAY in 2016, making it the 6th most active market in NSW based on total real estate transactions.
NELSON BAY, 2315 places 678th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $618,000 | $415,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.71% | -3.49% |
| Median 12 month | -8.1% | -1.19% |
| Median 3 years | 21.65% | 9.57% |
| Median 5 years | 34.35% | 30.71% |
| 10 years average annual | 5.06% | 2.69% |
| Weekly media advert. rent | $450 | $355 |
| Time on Market | 97.9 days | 113.5 days |
| Gross Rental Yield Percent | 3.79% | 4.45% |
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