Wyong has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of 11.70% to date .
The five-year average increase in median property values for Wyong,2259 has given property investors a potential capital gain of 63.60% across each of those five years.
Wyong, 2259 is offering NSW ‘s 873th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this NSW.
Residents and property investors in Wyong have been waiting around 54.35 days to sell a property.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.69%, without taking into account capital value appreciation, which has been averaging out at 7.63%.
At number 365th in the list of Australian suburbs ordered by increase in median house value over the last year, Wyong, 2259 is in the top 30% with a property value increase of 12.18% recorded in median house prices.
Wyong,2259 has offered an average of 12.18% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Wyong 2259 should be seeing an average reduction in asking price of around -3.38% . This means that Wyong is holding prices well when compared to other suburbs in NSW.
Wyong, 2259’s gross rental yield is 5.05%
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.”