Property value increases in Oyster Bay have tracked just higher than the NSW average of 10.55% over the last 12 months.
Taking the average capital gain, or increase in median house value, Oyster Bay,2225 has racked up an average of 12.82% over the period. This ranks it number 261th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Oyster Bay is offering property investors an average of -5.23. This rate of discount on properties puts Suburb at number 340th in terms of most discounted suburbs in NSW
Often selling an investment property can take time, and in Oyster Bay the average time real estate has been on the market is 35.17 days.
A $680 per week rent on the median house gives suburb investors a gross yield of circa 2.63%, without taking into account capital value appreciation, which has been averaging out at 8.43%.
Sutherland Shire suburb Oyster Bay is one of those ‘middle range’ suburbs which is experiencing a pickup in capital growth.Full summary
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Growth drivers: affordability, lifestyle,transport
Sutherland Shire suburb Oyster Bay is one of those ‘middle range’ suburbs which is experiencing a pickup in capital growth. Values grew by a significant 10% over the January quarter.
While the suburb is some distance from the CBD at 26km, it is within easy reach of the Como and Jannali rail stations, which offer direct trains to Central station and to Wollongong, and is sandwiched on the other side by the Princes Highway. It has a small shopping centre in the suburb, but is within easy reach of further amenities in Sylvania and Kareela. It’s situated on the Georges River, with a number of boat ramps. The suburb is also within easy reach of the reserves of the Sutherland Peninsula, the Royal National Park.
Residents are typically of working age, with average weekly income is significantly above the NSW average at $1,905pw (ABS). The suburb is dominated by separate houses. Median prices compare extremely well to other Shire waterside suburbs: exclusive Kangaroo Point’s median is well over $2m, and the median price in Sylvania Waters is $921,000.However, the rental market is very small at just 9% of the market – although vacancy rates are extremely tight at 1.3%. Capital growth potential is significant, though, with the suburb’s DSR score (see page ?? for further details) at 38 – indicating growth potential of more than 11% over the next 12 months.