$18m investor shares his ‘life-changing’ first investment
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Property investors enjoyed capital gains of 12.62% over the last 12 months in CORRIMAL, 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 7.34% growth over a ten-year period. It ranks 563rd on our list of suburbs that property investors should look into.
CORRIMAL, 2518 has a capital gain of 12.62% for the past year, which is lower than average compared to its 78.01% growth within a five-year period.
With the median home price in CORRIMAL sitting at $805,500, and the average rent at $500, property owners could potentially earn a 3.23% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in CORRIMAL are low, as opposed to average gains per annum over the past five years.
CORRIMAL, 2518 in NSW belongs to the local government area of Wollongong.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $805,500 | $530,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.69% | N/A |
| Median 12 month | 12.62% | 3.92% |
| Median 3 years | 43.84% | 39.47% |
| Median 5 years | 78.01% | 52.74% |
| 10 years average annual | 7.34% | 8.64% |
| Weekly media advert. rent | $500 | $400 |
| Time on Market | 57.1 days | 41.1 days |
| Gross Rental Yield Percent | 3.23% | 3.92% |
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