Over the last year, property investments in Wyong, 2259 have given investors a capital gain of 24.68%. This compares very favourably with the 8.99% for NSW as a whole.
Over the longer term, Wyong has seen property prices show investors a 65.81% 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 -3.72%. This puts suburb at number 989th in NSW when ranking the most discounted suburbs.
With the median price for a house in Wyong being $514000 and the advertised rent reaching $375 the gross rental yield for property investors calculates out to be 3.79%
Investment property in Wyong has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.46%
The five-year average increase in median property values for Wyong,2259 has given property investors a potential capital gain of 35.05% across each of those five years.
The most recent median price for Wyong is $314000, with sellers offering an average of -3.22% off the asking price.
Advertised rents are around the $340 mark per week – giving a return of 5.63% based on the median price in Suburb
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.”