NAB Tips 19% Price Growth For Property In 2021
One of Australia’s biggest banks has upped their expectations for Australia’s residential housing market, tipping 19...
A steady increase in median property prices over a five-year period in the suburb translates to a 15.91% capital gain.
It 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 $510,000
The augmented property values in the suburb are trailing above the territorial average of 9.13% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $400.
Home owners selling their properties and realtors in EDEN usually have to wait an average of 98.7 days days before their assets are lifted off the market.
The NSW suburb ranks 313th on the list of best yielding suburbs for rental properties in NSW, posting a 4.08% return.
It also places places 331st in Australia based on median property value growth during the quarter.
Eden is a seaside town whose coastline opens up to the South Pacific Ocean. It is located below Pambula Beach and lies 500 kilometres from the Sydney central business district. The town was named after the influential Eden family from England, who were involved in Australian and New Zealand politics.
The end of a neighbouring town and the discovery of alluvial gold in the now abandoned mining town of Kiandra was pivotal in Eden’s beginnings, transforming it into a boomtown. In its many incarnations, Eden centered on whaling, but it also engaged in wattle-bark processing, dairying and brick making. Since then, the town has turned to commercial fishing, making Eden the largest exporter of fresh fish to Melbourne and Sydney. This also brought forth the establishment of numerous tuna and salmon canning factories in the town.
Apart from fishing, Eden also depended on forestry and exported timber to Germany, China and New Zealand. This continues to contribute to Eden’s lion’s share of income, with export of woodchips and logs being the major trade at its port.
Things to do in Eden
Eden is truly a hidden gem with its diverse marine and terrestrial wildlife, secluded white-sand beaches, craggy cliffs, rock pools and walking tracks. It is where the famed Ben Boyd National Park is located, which offers majestic views of Eden’s landscapes and petite waterways, tucked behind imposing red and white clay formations. Ben Boyd National Park’s many lookouts are also perfect spots for whale watching. Eden is sandwiched by two bays, Twofold Bay and Merimbula Bay.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||15.25%||24.14%|
|Median 3 years||15.91%||26.32%|
|Median 5 years||53.38%||111.76%|
|10 years average annual||4.7%||9.94%|
|Weekly media advert. rent||$400||$282.5|
|Time on Market||98.7 days||134.3 days|
|Gross Rental Yield Percent||4.08%||4.08%|