Stability paving the way for property market gains
The housing market’s continual strength cannot be discounted despite the national property market’s recent dive to its largest value lo...
Property investors enjoyed capital gains of 5.68% 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 31.69% 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 $380 based on current median home prices for the suburb.
On average, rents on listings have reached the $380 mark, reflecting a 4.62% increase in returns based on the current median price in OLD EROWAL BAY.
OLD EROWAL BAY, 2540 ranks 406th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 223rd on the list of best yielding suburbs for rental properties in NSW, posting a 4.62% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $428,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | 5.68% | N/A |
| Median 3 years | 31.69% | N/A |
| Median 5 years | 85.28% | N/A |
| 10 years average annual | 6.84% | N/A |
| Weekly media advert. rent | $380 | N/A |
| Time on Market | 69.9 days | N/A |
| Gross Rental Yield Percent | 4.62% | N/A |
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