At number 1528th in the list of Australian suburbs ordered by increase in median house value over the last year, Newcastle West, 2302 is in the BOTTOM 20% with a property value increase of -9.37% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Newcastle West,2302 has racked up an average of -9.37% over the period. This ranks it number 486th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Newcastle West is offering property investors an average of -4.13. This rate of discount on properties puts Suburb at number 381th in terms of most discounted suburbs in NSW
Often selling an investment property can take time, and in Newcastle West the average time real estate has been on the market is 94.11 days.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 4.23%, without taking into account capital value appreciation, which has been averaging out at 6.35%.