With a capital gain of -9.45% for the last 12 months, Adamstown, 2289 has performed for property investments than its average annual 3.95% property growth over the last 5 years.
Across a shorter period, Adamstown, 2289 has seen a median price increase of -9.29% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Adamstown is offering property investors an average of -5.52. This rate of discount on properties puts Suburb at number 1174th in terms of most discounted suburbs in NSW
A $410 per week rent on the median house gives suburb investors a gross yield of circa 4.12%, without taking into account capital value appreciation, which has been averaging out at 3.95%.
Adamstown is in the bottom 40% in NSW when comparing median price capital growth over the last year. Adamstown gave property investors a disappointing capital gain figure when compared to the rest of the state, with 5.16%.
When looking at the potential capital gains offered to property investors over the last 3 years, Adamstown comes in at number 248th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.45% offered to property buyers. Sellers in Adamstown itself are offering an average vendor discount of -3.55% to real estate investors.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
Adamstown is a suburb of Newcastle, some 8km from the centre of the city. It backs into a more prestigious suburb named Merewether, which sits alongside the city’s most popular and famous beach – Bar Beach
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Adamstown is a suburb of Newcastle, some 8km from the centre of the city. It backs into a more prestigious suburb named Merewether, which sits alongside the city’s most popular and famous beach – Bar Beach.
Because Merewether and other beachside suburbs such as The Junction and Cooks Hill have grown significantly in the last few years, and especially at the beginning of the last decade, they’ve become significantly more expensive. It is arguable that a lot of buyers who would have been attracted to these suburbs might find the next best thing appeals to them more. Adamstown is the next best thing.
“Living in Adamstown, you’re usually 10 minutes or less from the Westfield Kotara, Homemakers Centre and Bar Beach. For a lot of people who can’t find a property that they like directly by the beach, or simply just can’t afford it there, Adamstown offers an affordable alternative,” says Michael Walter, a local real estate agent.