If you compare the increase in value of investment property in Wyong, 2259 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 10.17%.
Across a shorter period, Wyong, 2259 has seen a median price increase of 2.31% over the last quarter.
Property buyers and investors in Wyong 2259 should be seeing an average reduction in asking price of around -3.36% . This means that Wyong is holding prices well when compared to other suburbs in NSW.
Wyong, 2259’s gross rental yield is 3.98%
With a capital gain of 12.10% for the last 12 months, Wyong, 2259 has performed for property investments than its average annual 5.37% property growth over the last 5 years.
The five-year average increase in median property values for Wyong,2259 has given property investors a potential capital gain of 73.75% across each of those five years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.33% offered to property buyers. Sellers in Wyong itself are offering an average vendor discount of -3.19% to real estate investors.
Wyong is 82th on a list of best yielding suburbs for rents in NSW with a 5.09% return
Wyong offers a number of opportunities for investors on a budget. Some 90km north of Sydney and surrounded on one side by the Tuggerah Lake, this regional NSW hub stills offers the possibility of finding deals around the $300,000 mark. Full summary
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Wyong offers a number of opportunities for investors on a budget. Some 90km north of Sydney and surrounded on one side by the Tuggerah Lake, this regional NSW hub stills offers the possibility of finding deals around the $300,000 mark.
Located on Tuggerah Lake’s eastern side, Wyong is also 70km south of Newcastle, with train services making Sydney within one hour and 45 minutes reach and Newcastle accessible within an hour.
The suburb is well-equipped with amenities. Tuggerah Westfield shopping centre is 4km south of Wyong, and has 260 stores and an eight-screen Greater Union cinema. Wyong also has a public hospital (8km north-east of the CBD) and the Central Coast campus of the University of Newcastle is located in nearby Ourimbah (13km away).
“Around town there are some really good deals,” says Steve Hands, Professionals Wyong principal. “You can still buy a three-bedroom home under the $300,000-mark. There are riverfronts in our district that are selling for $150,000 less than what they were five years ago, so there’s a huge opportunity there.”
Just 10km north of Wyong, Warnervale city is undergoing major developments including a new medical complex. The first stage (which will cost about $4.5m, with $2.5m coming from the federal government) was approved in August and, once complete, will employ 45 staff. Stage two will cost an estimated $16m, and is expected to employ an additional 106 staff and up to 10 doctors.
“Warnervale city’s well underway,” says Hands, “so we’re struggling to keep up with the housing requirements in our area, that’s for sure.”