Property investors who have had real estate in Wollongbar, 2477 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.06%
The five-year average increase in median property values for Wollongbar,2477 has given property investors a potential capital gain of 11.50% across each of those five years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.50% offered to property buyers. Sellers in Wollongbar itself are offering an average vendor discount of -4.50% to real estate investors.
On average over the past year, suburb has had 4.58 sales per month, which equates to 55 per year.
Renters in Suburb are facing rents around $4740 per annum or $395 every week.
If you compare the increase in value of investment property in Wollongbar, 2477 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -0.85%.
LACK OF BUYER INTEREST may well be the reason that Wollongbar is offering property investors an average of -4.45. This rate of discount on properties puts Suburb at number 249th in terms of most discounted suburbs in NSW
On average over the past year, suburb has had 1.42 sales per month, which equates to 17 per year.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 4.21%, investors should hope to achieve an overall return of 4.84%