Lennox Head

POSTAL CODE: NSW, 2478

HOUSE

UNIT

Property investments in LENNOX HEAD fare well against the rest of the country last year, registering a median home price increase of 0.91%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains LENNOX HEAD, 2478 saw average growth in the long term.

Real estate investors could earn a rental income of $950 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 85.6 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,665,000.

LENNOX HEAD ranks 688th on the list of best yielding suburbs for rental properties in NSW, posting a 2.97% return.

Based on its average 5-year and quarterly capital gains LENNOX HEAD, 2478 saw average growth in the long term.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an downward trend in home prices in LENNOX HEAD, 2478 averaged -0.08% per annum over a 3-year period.

Average weekly rents on listings have reached the $800 mark, reflecting a 3.34% increase in returns based on the current median price in LENNOX HEAD.

An average of 8.08 real estate transactions take place per month in LENNOX HEAD which translates to 97 per annum.

97 properties were sold in LENNOX HEAD during the past year, making it the 3rd most active market in NSW based on total real estate transactions.

LENNOX HEAD, 2478 places 145th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,665,000	$1,247,000
Growth Report
Median Quarterly	2.4%	3.92%
Median 12 month	0.91%	9.63%
Median 3 years	6.73%	-0.24%
Median 5 years	68.69%	50.6%
10 years average annual	10.89%	9.71%
Weekly media advert. rent	$950	$800
Time on Market	85.6 days	71.5 days
Gross Rental Yield Percent	2.97%	3.34%

Demographics (Median Values)*

Total Population 28310

Weekly Household Income 1140

Household Size 2.30

Average Age 48

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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