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Hay
AREA REPORTS

Hay

Hay - SUBURB PROFILE REPORT
POSTAL CODE: NSW, 2711

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Based on its average 5-year and quarterly capital gains HAY, 2711 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that HAY, 2711 obtained a 6.27% growth over a ten-year period. It ranks 1404th on our list of suburbs that property investors should look into.

HAY, 2711 in NSW belongs to the local government area of Hay (A).

HAY, 2711 has a capital gain of 20.83% for the past year, which is higher than average compared to its 20.83% growth within a five-year period.

With the median home price in HAY sitting at $145,000, and the average rent at $220, property owners could potentially earn a 7.89% increase in gross rental yield.

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

Surburb overview

Hay is a suburb in the Riverina region of New South Wales that serves as the administrative seat of the local government area of Hay Shire. It is bounded by the suburb of One Tree to the north, the village of Maude to the east, the village of Carrathool to the west and the locality of Booroorban to the south. Hay can be reached by private car via the Cobb, Sturt and the Mid-Western Highways.

As its name suggests, Hay is an agricultural town surrounded by thickets, prairies and the outback. Hay is located on a robust flatland that yields a variety of crops, and is favorable as a breeding ground for cattle and sheep breeding.

It is a town birthed by the Murrumbidgee River, which became central to its reputation as a transport hub. Apart from its rural charm, visitors also head to Hay for its plethora of heritage buildings and museums, which include the Hay Gaol Museum and the Dunera Museum.

Property investment overview

The median home price in Hay reflects a marginal but steady increase for the past 10 years. Gross rental yields for properties are also on an upward trend over the past year. A number of factors are contributing to this growth. Hay is one of the locations in the Australian countryside that’s the focus of a government campaign entitled “Country Change”, which aims to draw tourists and new residents to the region.

The suburb’s job market is also pointing to a positive phase in Hay’s economy as more jobs are created in the horticultural and tourism segments. This has been brought on by the government’s aggressive promotion of Hay and its neighbouring localities as a green business destination, as part of its program to turn the region into a “centre of sustainability”.

Flats, units or apartments and separate houses each account for nearly 50 per cent of the dwelling spaces in Hay. Homes for sale are either new units in contemporary style or old stock in the form of the weatherboard homes.

Data report can be found below

Hay
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $145,000 N/A
GROWTH REPORT
Median Quarterly 7.41% N/A
Median 12 month 20.83% N/A
Median 3 years -13.43% N/A
Median 5 years 20.83% N/A
10 years average annual 6.27% N/A
Weekly media advert. rent $220 N/A
Time on Market 150.7 days N/A
Gross Rental Yield Percent 7.89% N/A
demographics (median values)*
Total Population
3360
Weekly Household Income
1110
Household Size
2.30
Age
45
Monthly Loan Repayment
952
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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