Castlereagh

CASTLEREAGH, 2749 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 $2,230,000.

CASTLEREAGH now ranks at the 340th place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of $650 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CASTLEREAGH, homes and units usually stay on listing for an average of 117.9 days.

In 2016, 22 properties were sold in CASTLEREAGH during the past year, making it the 873rd most active market in NSW based on total real estate transactions.