What the NSW election result means for property investors
NSW Premier Gladys Berejiklian is set to remain in power for another term, so what does that mean for property investment in NSW? ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $1,330,000.
The upward trend in home prices in PITT TOWN, 2756 averaged 7.85% per annum over a 3-year period.
Average weekly rents on listings have reached the $700 mark, reflecting a 2.74% increase in returns based on the current median price in PITT TOWN.
An average of 6.42 real estate transactions take place per month in PITT TOWN which translates to 77 per annum.
77 properties were sold in PITT TOWN in 2016, making it the 129th most active market in NSW based on total real estate transactions.
PITT TOWN, 2756 places 354th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,330,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.53% | N/A |
| Median 12 month | -1.48% | N/A |
| Median 3 years | 23.55% | N/A |
| Median 5 years | 80.95% | N/A |
| 10 years average annual | 13.78% | N/A |
| Weekly media advert. rent | $700 | N/A |
| Time on Market | 105.9 days | N/A |
| Gross Rental Yield Percent | 2.74% | N/A |
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