Property value increases in Newcastle have tracked lower than the NSW average of 7.28% over the last 12 months.
With the median price for a house in Newcastle being $980000 and the advertised rent reaching $535 the gross rental yield for property investors calculates out to be 2.84%
Newcastle is in the TOP 20% in NSW when comparing median price capital growth over the last year. Newcastle gave property investors a very good capital gain figure when compared to the rest of the state, with 16.04%.
Newcastle,2300 was ranked 789 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Newcastle are currently offering property investors an average price cut of -3.81% below the asking price at the moment.
Using the current median advertised rental of $490 and the average annual increase in value of a median property of 1.00%, investors should hope to achieve an overall return of 4.57%