Property investors who have had real estate in Ballina, 2478 should be relatively pleased 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 9.09%
While Ballina,2478 ranked number 552th in NSW for increase in median house value (annualised) increase, it is ranked 977th over the last 5 years.
Our latest figures would indicate that property sellers in Ballina are currently offering property investors an average price cut of -5.72% below the asking price at the moment.
Residents and property investors in Ballina have been waiting around 89.46 days to sell a property.
Advertised rents are around the $450 mark per week – giving a return of 4.88% based on the median price in Suburb
Ballina, 2478 ranked 156th in NSW when comparing growth in median property values or capital gain over the last 12 months. Ballina is one of 3163 in our list for NSW
A 21.56% growth in median value for property investors in Ballina,2478 puts this suburb at number 216th in terms of best performing suburbs in NSW
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.41% offered to property buyers. Sellers in Ballina itself are offering an average vendor discount of -3.21% to real estate investors.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
Situated 80km from the NSW/Queensland border, Ballina has good transport connections by road, rail and air: a particular draw for sea changers is the presence of the Ballina-Byron Gateway airport just outside the town, which carries commercial flights to Melbourne and Sydney.Full summary
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Situated 80km from the NSW/Queensland border, Ballina has good transport connections by road, rail and air: a particular draw for sea changers is the presence of the Ballina-Byron Gateway airport just outside the town, which carries commercial flights to Melbourne and Sydney. A new bypass is also being constructed to take heavy traffic away from the town: this is expected to be fully completed by mid-2012.
It has all the amenities you’d expect in a coastal town – including its own hospital, several schools, a combination of supermarkets and independent grocery stores, and one of Australia’s iconic ‘giant things’ – in this case, a giant prawn. As a popular holiday town, there are also a wide range of leisure activities from kayaking and fishing to ten pin bowling and golf – as well as numerous restaurants and cafes.
The town is a popular location for sea changers and retirees, and experiencing healthy population growth: SQM Research projects growth of 2% pa for the next few years. It’s possible that this could increase, too, as baby boomers retire and head to the coast in greater numbers. The area does suffer from coastal erosion, so while a beachfront property may seem desirable, it may be better to opt for properties a street or two back from the coast
Properties are relatively expensive for a north coast NSW town, albeit nowhere near as expensive as local leader Byron Bay.