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A steady increase in median property prices over a five-year period in the suburb translates to a 3.88% capital gain.
Property investors in SPRINGWOOD enjoyed capital gains of 4.41% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $710,000.
Profits due to an upward trend in home prices there averaged 1.29% per annum over a 3-year period.
Home owners selling their properties and realtors in SPRINGWOOD usually have to wait an average of 28.7 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $475 mark, reflecting a 3.48% increase in returns based on the current median price in SPRINGWOOD.
SPRINGWOOD, 2777 places 779th in Australia based on median property value growth during the quarter.
Springwood is a town cradled by a valley in the picturesque Blue Mountains, an hour’s drive away from Sydney’s central business district. It lies within 72 kilometres of Sydney, and is situated 371 metres above sea level. Its railway station connects it to nearby suburbs and Sydney’s CBD.
As the second largest town in the Blue Mountains, Springwood is a thriving locality that is a stone’s throw away from bushwalking areas, yet has all the hallmarks of a developed neighborhood. Its retail hubs are purposely built around Macquarie Road and main highways, and it is also equipped with sports facilities, such as a tennis court, a golf course, a number of swimming pools and gyms.
Things to do in Springwood
Residents living in Springwood, NSW take pride in its lovely town proper where its historical buildings are located. At the heart of the town is a the Presbyterian Church, a popular venue for weddings in the area. Springwood also has two historic hotels, a library and a museum where travellers and residents alike can while away the time. Flowering trees accessorise these heritage buildings, which are built in the Victorian Gothic style.
Those with a taste for adventure can brave the town’s great outdoors, such as the Blue Mountains National Park and the Greater Blue Mountains Area World Heritage Site. Springwood also has a multitude of parks for leisure walks and picnics.
Springwood real estate outlook
The Springwood property market has seen tremendous growth over the past five years, driven by increased interest from Sydney investors and property buyers. Employment opportunities in the west are also improving, along with the transport links to-and-from various cities and suburbs.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||4.41%||-4.08%|
|Median 3 years||3.88%||-17.18%|
|Median 5 years||26.79%||14.91%|
|10 years average annual||5.79%||5.49%|
|Weekly media advert. rent||$475||$390|
|Time on Market||28.7 days||43.4 days|
|Gross Rental Yield Percent||3.48%||4.31%|