Lennox Head has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -1.81% to date .
A 29.22% growth in median value for property investors in Lennox Head,2478 puts this suburb at number 1067th in terms of best performing suburbs in NSW
Property investors looking for a bargain in Lennox Head should be aiming for at least -5.22% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $7560 per annum or $630 every week.
If you compare the increase in value of investment property in Lennox Head, 2478 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 9.87%.
Over the longer term, Lennox Head has seen property prices show investors a 25.19% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lennox Head, 2478. Typically our figures indicate that -3.25% is being offered, which puts this NSW suburb at 1218th most discounted overall in Australia.
Renters in Suburb are facing rents around $6240 per annum or $520 every week.
Although it is a suburb of NSW, the seaside surfers’ hub of Lennox Head is actually closer to the Gold Coast. Thus, it may be getting attention from both NSW and Queensland buyers.Full summary
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Vendors sell easily in surfers paradise
Median unit price: $620,000
Three-year growth: 16.98%
Rental yield: 4.28%
Although it is a suburb of NSW, the seaside surfers’ hub of Lennox Head is actually closer to the Gold Coast. Thus, it may be getting attention from both NSW and Queensland buyers.
The suburb’s unit market reported nearly 20% growth in the past year, and the positive growth trend has been maintained into the February 2017 quarter. The low average discount rate of 3.24% suggests that sellers are having little trouble unloading apartments here.
Lennox Head is quite popular as a holiday destination for beachgoers; hence, it has the amenities to meet the needs of both visitors and residents. There is a recreational spot beside nearby Lake Ainsworth that provides barbecue facilities, and the lake itself is ideal for kayaking. The famous Lennox Point is located at the southern end of Seven Mile Beach. There is also a small primary school catering to families with kids.