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The Property Investment Professionals of Australia (PIPA) has issued a firm call to the new government: prioritise the r...
Property investments in HEDDON GRETA fare well against the rest of the country last year, registering a median home price increase of 49.87%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are high, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains HEDDON GRETA, 2321 saw average growth in the long term.
Real estate investors could earn a rental income of $500 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 21.7 days.
Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $580,000.
HEDDON GRETA ranks 126th on the list of best yielding suburbs for rental properties in NSW, posting a 4.48% return.
Heddon Greta is a tiny suburb in New South Wales, located above the suburbs of Kurri Kurri and Stanford Merthyr and below Cliftleigh on the map. The suburb allows direct access to the Sydney Central Business District through the Hunter Expressway. The completion of the Hunter Expressway near Heddon Greta ushered in the arrival of moneyed investors who are on the lookout for the location of the next suburb boom.
The region’s vineyards are also drawing interest from international business entities. Amenities and shops are opening up franchises in Heddon Greta, providing locals an array of services to choose from. Among these are known brands in the retail and food and beverage segments.
Changing buyers’ preferences
Real estate agents, buyers and sellers have lifestyle trends to thank for the growing popularity of towns like Heddon Greta. More and more people are leaning towards settling down in the relaxing countryside, and getting the best bang for their buck. They are also making a conscious decision to choose rural properties that do not take too long to get to from the central business district.
Most of the buyers who pay Heddon Greta a visit are retirees and investors who are looking to put their money on commercial properties. However, an influx of first-time home buyers and bargain hunters are finding themselves in the suburb, priced out by the CBD’s mounting real estate costs. The price of homes for sale in Heddon Greta ranges between AU$370,000 and AU$620,000. Wide plots are for sale for AU$170,000 based on recent listings. Listings include vacant lots and full turnkey packages.
There is also the matter of freedom bestowed upon owners. Developers in Heddon Greta extend buyers the flexibility to build their homes in whatever design they wish.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||49.87%||N/A|
|Median 3 years||34.1%||N/A|
|Median 5 years||40.18%||N/A|
|10 years average annual||5.23%||N/A|
|Weekly media advert. rent||$500||N/A|
|Time on Market||21.7 days||N/A|
|Gross Rental Yield Percent||4.48%||N/A|