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A survey of average capital gains or median home price increase in suburbs across the country shows that the NSW suburb obtained a 1.35% growth over a ten-year period. It ranks 2883rd on our list of suburbs that property investors should look into.
BROKEN HILL, 2880 has a capital gain of -1.8% for the past year, which is lower than average compared to its 4.35% growth within a five-year period.
With the median home price in BROKEN HILL sitting at $120,000, and the average rent at $270, property owners could potentially earn a 11.7% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in BROKEN HILL are low, as opposed to average gains per annum over the past five years.
BROKEN HILL, 2880 in NSW belongs to the local government area of Broken Hill (C).
As Australia’s first national heritage-listed city, Broken Hill’s contribution to the country’s national identity cannot be ignored. Broken Hill is a former boomtown situated west of the outback, known for its robust precious and base metals deposits. It is said that the country owed much of its progress during the 19th century to Broken Hill’s Line of Lode, a massive ore body containing zinc, lead and silver. Broken Hill was also responsible for the founding of Australia’s union movement and the introduction of modern employment practices, such as the eight-hour workday.
Things to do in Broken Hill
Broken Hill’s total population is 19,553, with a median age of 42. It is home to a number of retirement estates, though that is not to say that it doesn’t have something to offer to its younger residents. Broken Hill epitomises the great outdoors, surrounded by epic mountain ranges, sprawling deserts and red rock boulders. Accommodations are not a problem for travellers, with the Broken Hill Tourist Park and the majestic Palace Hotel offering a variety of choices.
Investing in Broken Hill real estate
The Broken Hill property market is not commonly a destination among property investors, although it offers a few surprises along the way. As Sydney real estate prices out buyers, Broken Hill has been on the receiving end of unconventional investors’ affection who are snagging properties on the cheap, with the intention of using them as holiday homes, or flipping them soon.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-1.8%||N/A|
|Median 3 years||20%||N/A|
|Median 5 years||4.35%||N/A|
|10 years average annual||1.35%||N/A|
|Weekly media advert. rent||$270||N/A|
|Time on Market||123.6 days||N/A|
|Gross Rental Yield Percent||11.7%||N/A|