Property investors see reduced competition from FHBers
Recent market conditions have meant first-home buyers have had to bow out of the property game, and are expected to return by the end of 201...
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 $649,500.
The upward trend in home prices in SAWTELL, 2452 averaged 6.76% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 3.6% increase in returns based on the current median price in SAWTELL.
An average of 3.5 real estate transactions take place per month in SAWTELL which translates to 42 per annum.
42 properties were sold in SAWTELL in 2016, making it the 473rd most active market in NSW based on total real estate transactions.
SAWTELL, 2452 places 417th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $649,500 | $425,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.64% | 9.82% |
| Median 12 month | 8.7% | 7.59% |
| Median 3 years | 20.28% | 33.93% |
| Median 5 years | 40.13% | 56.32% |
| 10 years average annual | 4.74% | 5.93% |
| Weekly media advert. rent | $450 | $320 |
| Time on Market | 128.0 days | 71.0 days |
| Gross Rental Yield Percent | 3.6% | 3.92% |
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