At number 836th in the list of Australian suburbs ordered by increase in median house value over the last year, Cromer, 2099 is in the top 30% with a property value increase of 11.57% recorded in median house prices.
The five-year average increase in median property values for Cromer,2099 has given property investors a potential capital gain of 58.82% across each of those five years.
Vendor discounting in Cromer is giving property investors an average Vendor Discount of around -4.61%. This puts suburb at number 774th in NSW when ranking the most discounted suburbs.
At number 223 in a list of fastest selling suburbs, Cromer is in the TOP 10% of suburbs in Australia with an average of days on market 40.64 for properties listed there.
A $850 per week rent on the median house gives suburb investors a gross yield of circa 3.27%, without taking into account capital value appreciation, which has been averaging out at 6.86%.
Property value increases in Cromer have tracked higher than the NSW average of 6.59% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cromer has increased when compared to the 5 year average annual rate.
Advertised rents are around the $480 mark per week – giving a return of 3.13% based on the median price in Suburb