If you compare the increase in value of investment property in Wyong, 2259 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 26.01%.
Over the longer term, Wyong has seen property prices show investors a 65.65% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Wyong is giving property investors an average Vendor Discount of around -3.54%. This puts suburb at number 1037th in NSW when ranking the most discounted suburbs.
Advertised rents are around the $380 mark per week – giving a return of 3.63% based on the median price in Suburb
Wyong is an average performer in NSW when comparing median price capital growth over the last year. Wyong gave property investors a good capital gain figure when compared to the rest of the state, with 10.07%.
A 41.08% growth in median value for property investors in Wyong,2259 puts this suburb at number 81th in terms of best performing suburbs in NSW
Property investors looking for a bargain in Wyong should be aiming for at least -2.77% off the asking price, which is the average vendor discount being achieved at the moment.
Wyong, 2259’s gross rental yield is 5.31%
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.”