Property Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
Property investors enjoyed capital gains of 21.04% over the last 12 months in PORT MACQUARIE, translating to lower returns compared with its peers in NSW.
A survey of average capital gains or median home price increase in suburbs across the country shows that the NSW suburb obtained a 6.46% growth over a ten-year period. It ranks 1540th on our list of suburbs that property investors should look into.
PORT MACQUARIE, 2444 has a capital gain of 21.04% for the past year, which is higher than average compared to its 40.78% growth within a five-year period.
With the median home price in PORT MACQUARIE sitting at $725,000, and the average rent at $550, property owners could potentially earn a 3.94% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in PORT MACQUARIE are high, as opposed to average gains per annum over the past five years.
PORT MACQUARIE, 2444 in NSW belongs to the local government area of Port Macquarie-Hastings (A).
Port Macquarie is a township where the Hastings River ends and merges with the Tasman Sea. Located 420 kilometres north of Sydney, travel from Port Macquarie to Sydney’s central business district takes about four hours. The town is divided into two areas by the North Coast Rail Line and the Pacific Highway.
Port Macquarie things to do
With a far-reaching coastline, Port Macquarie can satiate every travellers’ desire to bask in the sea. What’s on offer are 17 beaches made for anything from dog-walking to surfing, including a beach that’s within walking distance from its central business district.
Apart from its mesmerising beaches, Port Macquarie is also popular among tourists for its koala rehabilitation facility and whale and dolphin sightings. Hankering for a walk in the hinterlands? Get lost in nature’s arms at the Kooloonbung Creek Nature Park or interact with local animals at the Sea Acres Rainforest Centre.
First time home buyers destination
In the past, most of the properties sold in Port Macquarie were picked up by retirees, but a younger set tired of the daily grind is moving to its enclaves. The township is also proving to be a favourable investment destination for first time home buyers, thanks to their exemption from paying a stamp duty. As a result, the median home price of houses sold and real estate rentals in Port Macquarie have soared as demand continues to gain momentum.
Property owners looking to resell their property can profit from Port Macquarie’s rising value. Investors are not shying away from increasing prices, eager to take advantage of the township’s surprising growth. Some of them have already commenced new developments, or have just footed the bill for agricultural land newly opened by the government for rezoning.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.04%||14.7%|
|Median 3 years||26.09%||23.08%|
|Median 5 years||40.78%||35.21%|
|10 years average annual||6.46%||5.7%|
|Weekly media advert. rent||$550||$420|
|Time on Market||36.0 days||39.2 days|
|Gross Rental Yield Percent||3.94%||4.55%|