Glen Innes

GLEN INNES, 2370 delivered a weaker 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 GLEN INNES, 2370 values up and netting property investors a capital gain of 22.22% for the past year.

Investors saw the median home price rise to $440,000.

Profits due to an upward trend in home prices in the suburb averaged 10.45% per annum over a 3-year period.

GLEN INNES now ranks at the 254th 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 GLEN INNES 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 $400 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 GLEN INNES, homes and units usually stay on listing for an average of 89.5 days.

In 2016, 156 properties were sold in GLEN INNES during the past year, making it the 1094th most active market in NSW based on total real estate transactions.