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Based on its average 5-year and quarterly capital gains HAY, 2711 saw average decrease 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 2.22% growth over a ten-year period. It ranks 2985th 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 -18.03% for the past year, which is lower than average compared to its -7.41% growth within a five-year period.
With the median home price in HAY sitting at $125,000, and the average rent at $220, property owners could potentially earn a 9.15% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in HAY are low, as opposed to average gains per annum over the past five years.
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.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-18.03%||N/A|
|Median 3 years||-22.12%||N/A|
|Median 5 years||-7.41%||N/A|
|10 years average annual||2.22%||N/A|
|Weekly media advert. rent||$220||N/A|
|Time on Market||160.3 days||N/A|
|Gross Rental Yield Percent||9.15%||N/A|