‘Great buying opportunities’ for careful investors looking at new-builds
Situations like Sydney’s Opal Tower fiasco have buyers cautious of the new-build market, but there are bargains to be had for those who ar...
Property investors enjoyed capital gains of 9.74% over the last 12 months in OLD EROWAL BAY, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in OLD EROWAL BAY are low, as opposed to average gains per annum over the past five years.
The suburb posted a 53.03% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $355 based on current median home prices for the suburb.
On average, rents on listings have reached the $355 mark, reflecting a 4.31% increase in returns based on the current median price in OLD EROWAL BAY.
OLD EROWAL BAY, 2540 ranks 393rd in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 275th on the list of best yielding suburbs for rental properties in NSW, posting a 4.31% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $428,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.94% | N/A |
| Median 12 month | 9.74% | N/A |
| Median 3 years | 53.03% | N/A |
| Median 5 years | 79.08% | N/A |
| 10 years average annual | 6.47% | N/A |
| Weekly media advert. rent | $355 | N/A |
| Time on Market | 65.7 days | N/A |
| Gross Rental Yield Percent | 4.31% | N/A |
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