Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the ...
NELSON BAY, 2315 ranks 2883rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 1.59% for property investors.
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 $640,000.
The upward trend in home prices in NELSON BAY, 2315 averaged 2.43% per annum over a 3-year period.
Average weekly rents on listings have reached the $437.5 mark, reflecting a 3.55% increase in returns based on the current median price in NELSON BAY.
An average of 10.75 real estate transactions take place per month in NELSON BAY which translates to 129 per annum.
129 properties were sold in NELSON BAY in 2016, making it the 1243rd most active market in NSW based on total real estate transactions.
NELSON BAY, 2315 places th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $640,000 | $465,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | 4.49% |
| Median 12 month | 1.59% | 12.05% |
| Median 3 years | 7.29% | 16.25% |
| Median 5 years | 37.63% | 41.12% |
| 10 years average annual | 4.53% | 3.45% |
| Weekly media advert. rent | $437.5 | $365 |
| Time on Market | 92.4 days | 105.4 days |
| Gross Rental Yield Percent | 3.55% | 4.08% |
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