Wyong, 2259 ranked 535th in NSW when comparing growth in median property values or capital gain over the last 12 months. Wyong is one of 3163 in our list for NSW
If we look at median property appreciation over just the last three months, Wyong has given property investors a paper return of 0.00%. This puts Suburb as 1060 on a list of fastest fasting appreciating suburbs in NSW
Vendor discounting in Wyong is giving property investors an average Vendor Discount of around -3.57%. This puts suburb at number 1038th in NSW when ranking the most discounted suburbs.
With a capital gain of 13.71% for the last 12 months, Wyong, 2259 has performed for property investments than its average annual 5.15% property growth over the last 5 years.
Across a shorter period, Wyong, 2259 has seen a median price increase of 3.34% over the last quarter.
Property investors looking for a bargain in Wyong should be aiming for at least -2.81% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Wyong have been waiting around 55.23 days to sell a property.
With the median price for a house in Wyong being $340000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 5.20%
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.”