Suburb Profile Report for Tea Gardens NSW (2324)

Tea Gardens House: Median price $509,000, Annual capital growth 2.68%, Number of sales 79, Weekly median advertised rent $370

Tea Gardens Unit: Median price $390,000, Annual capital growth 1.30%, Number of sales 29, Weekly median advertised rent $315

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 1080th in the list of Australian suburbs ordered by increase in median house value over the last year, Tea Gardens, 2324 is in the top 30% with a property value increase of 10.05% recorded in median house prices.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Tea Gardens has increased when compared to the 5 year average annual rate.

Property buyers and investors in Tea Gardens 2324 should be seeing an average reduction in asking price of around -5.76% . This means that Tea Gardens is holding prices well when compared to other suburbs in NSW.

With the median price for a house in Tea Gardens being $509000 and the advertised rent reaching $370 the gross rental yield for property investors calculates out to be 3.78%

With a capital gain of 19.08% for the last 12 months, Tea Gardens, 2324 has performed for property investments than its average annual 1.30% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Tea Gardens,2324 has racked up an average of 19.08% over the period. This ranks it number 340th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Tea Gardens 2324 should be seeing an average reduction in asking price of around -4.32% . This means that Tea Gardens is holding prices well when compared to other suburbs in NSW.

Residents and property investors in Tea Gardens have been waiting around 86.23 days to sell a property.

A $315 per week rent on the median house gives suburb investors a gross yield of circa 4.20%, without taking into account capital value appreciation, which has been averaging out at 1.30%.

HOUSE UNIT
$509,000 $390,000
3.88% 14.71%
10.05% 19.08%
2.68% 1.30%
$370 $315
79 29
3.78% 4.20%
89.48 86.23

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
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Demographics
Total population 2434
Median household income ($/weekly) 756
Median age of persons 61
Median housing loan repayment ($/monthly) 1600
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 212 8.7
    45-54 years 240 9.8
    55-64 years 436 17.9
    65-74 years 614 25.2
    75-84 years 312 12.8
    Others 623 25.6
    Age Group
    Census Count Percent(%)
    Registered Married 1216 63.6
    Not Married 523 27.4
    Defacto Relationship 173 9.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 1982 85.7
    Greece 21 0.9
    Papua New Guinea 33 1.4
    United Kingdom 170 7.3
    Other 29 1.3
    Others 78 3.4
    Country of Birth
    Census Count Percent(%)
    Christianity 1938 85.7
    No Religion 308 13.6
    Hinduism 7 0.3
    Buddhism 6 0.3
    Other Religious Groups 3 0.1
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 78 8.0
    $400-$599 210 21.6
    $600-$799 164 16.9
    $800-$999 161 16.6
    $1,000-$1,249 73 7.5
    Others 284 29.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1308 63.8
    Employed, worked full-time 364 17.7
    Employed, worked part-time 288 14.0
    Employed, away from work 48 2.3
    Unemployed, looking for work 43 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 86 12.4
    Professionals 104 14.9
    Technicians & trades workers 125 18.0
    Community & personal service workers 97 13.9
    Labourers 96 13.8
    Others 188 27.0
    Occupation
    Census Count Percent(%)
    Pre-school 31 9.4
    Infants/Primary 145 43.9
    Secondary 102 30.9
    Technical or Further Educational Institution 22 6.7
    University or other Tertiary Institutions 24 7.3
    Others 6 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2002 88.7
    Semi-detached, row or terrace house, townhouse 209 9.3
    Flat, unit or apartment 24 1.1
    Caravan, cabin, houseboat 8 0.4
    House or flat attached to a shop, office 10 0.4
    Others 3 0.1
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 556 54.0
    Rented 232 22.5
    Being purchased 173 16.8
    Other tenure type 69 6.7
    Tenure Type
Census 2011, ABS
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