City Buyers Swarm NSW South Coast, Creating Unseen Conditions
Properties on the NSW South Coast are selling on average 20 per cent above expectation as the coastal market heats up. ...
A steady increase in median property prices over a five-year period in the suburb translates to a -0.14% capital gain.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $729,000
The augmented property values in the suburb are trailing behind the territorial average of 7.28% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $540.
Home owners selling their properties and realtors in JORDAN SPRINGS usually have to wait an average of 48.9 days days before their assets are lifted off the market.
The NSW suburb ranks 380th on the list of best yielding suburbs for rental properties in NSW, posting a 3.85% return.
It also places places 792nd in Australia based on median property value growth during the quarter.
Jordan Springs was all wet and arid lands in the past, but realtors and property buyers would be surprised at how much the suburb has evolved since. Housing estates are virtually non-existent five years ago in Jordan Springs, but new developments have sprung up in the area as acres of greeneries were rezoned for residential use.
Today, Jordan Springs’ population numbers an estimated 5,000 and the local council forecast the addition of 3,000 more residents in the next five years. Developers, however, are more bullish on their new estates and expect an average of 6,000 new residents once construction is completed.
Relaxed laws for property owners
Drawn to its easygoing atmosphere, community-centric amenities and nearby natural attractions, people have flocked to Jordan Springs for either a change of scenery or lifestyle, or both. In addition, buyers are afforded the freedom to extend their properties and have a home built in their own design. Jordan Springs home models are not homogeneous, and the suburb is also the first in the entire country to construct extension-ready homes.
The median home price in Jordan Springs is on an uptick, settling at approximately AU$740,000, while units sell at AU$544,000, based on our market data. Rental income from properties has exhibited an upward movement in recent years as well.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||5.35%||-1.56%|
|Median 3 years||-0.14%||-0.18%|
|Median 5 years||8.81%||14.34%|
|10 years average annual||4.55%||5.75%|
|Weekly media advert. rent||$540||$369|
|Time on Market||48.9 days||0.0 days|
|Gross Rental Yield Percent||3.85%||3.44%|