At number 2031th in the list of Australian suburbs ordered by increase in median house value over the last year, Ballina, 2478 is in the top half with a property value increase of 4.55% recorded in median house prices.
Ballina,2478 was ranked 2486 in Australia by increase in median property value over the quarter.
Ballina, 2478 is offering NSW ‘s 476th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NSW.
Residents and property investors in Ballina have been waiting around 83.59 days to sell a property.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 5.09%, without taking into account capital value appreciation, which has been averaging out at 2.87%.
Investment property in Ballina has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.82%
Over the longer term, Ballina has seen property prices show investors a 23.33% return over the last 3 years. This is worse than over the last 12 months
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.42% offered to property buyers. Sellers in Ballina itself are offering an average vendor discount of -4.03% to real estate investors.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 2.71%, investors should hope to achieve an overall return of 4.92%
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.