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 21.18%.
A 65.67% growth in median value for property investors in Wyong,2259 puts this suburb at number 165th in terms of best performing suburbs in NSW
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.45% offered to property buyers. Sellers in Wyong itself are offering an average vendor discount of -3.50% to real estate investors.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.65%, without taking into account capital value appreciation, which has been averaging out at 7.47%.
NSW has seen average median house prices change by 6.22% which means that Wyong, 2259 has done well for property investors by showing a capital gain of 12.10% over the last year
Wyong,2259 has offered an average of 12.10% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -3.28% to buyers in Wyong at the moment, which is less than average for the rest of NSW.
In the last year 42 properties changed hands in Wyong, which puts it as the 303th most active market in NSW when comparing the number of sales per suburb.
With the median price for a house in Wyong being $347500 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 5.09%
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.”