At number 562th in the list of Australian suburbs ordered by increase in median house value over the last year, Wentworth Point, 2127 is in the top 40% with a property value increase of 6.92% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Wentworth Point comes in at number 353th in NSW.
Property investors looking for a bargain in Wentworth Point should be aiming for at least -3.63% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Wentworth Point being $695000 and the advertised rent reaching $525 the gross rental yield for property investors calculates out to be 3.93%
While there are some strong signs for the market in the Western Sydney suburb of Wentworth Point, investors should take note of its increasing vacancy rate.Full summary
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While there are some strong signs for the market in the Western Sydney suburb of Wentworth Point, investors should take note of its increasing vacancy rate.Close
According to Real Estate Investar, the suburb’s vacancy rate sits at 16.01%, having increased from 14.33% over the past 12 months.
While Wentworth Point’s current vacancy rate and average rental yield of 4% may mean the suburb is unlikely to deliver positive cash flow to investors, those who have bought into the area in recent years have likely benefited from strong capital growth.
The median unit price in the suburb is currently north of $600,000, having increased by 29% over the past five years.
That growth has made dwellings in the suburb a relatively hot commodity, with units spending on average just 36 days on the market.