With a capital gain of 22.04% for the last 12 months, Balgownie, 2519 has performed for property investments than its average annual 7.53% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Balgownie comes in at number 165th in NSW.
At number 301th of NSW’s most discounted properties, Balgownie is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $490 weekly from the median priced house in this suburb.
Over the last year, property investments in Balgownie, 2519 have given investors a capital gain of 4.07%. This compares badly with the 8.31% for NSW as a whole.
While Balgownie,2519 ranked number 166th in NSW for increase in median house value (annualised) increase, it is ranked 196th over the last 5 years.
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 Balgownie, 2519. Typically our figures indicate that -3.39% is being offered, which puts this NSW suburb at 1178th most discounted overall in Australia.
Often selling an investment property can take time, and in Balgownie the average time real estate has been on the market is 53.7 days.
A $480 per week rent on the median house gives suburb investors a gross yield of circa 3.90%, without taking into account capital value appreciation, which has been averaging out at 6.46%.
Roughly 10 minutes from Wollongong, the suburb of Balgownie has undergone considerable development in recent years, making it one of the top growing suburbs in New South Wales.Full summary
Information supplied by:
Transformation of Wollongong suburb heralds growth
Median house price: $802,500
Three-year growth: 40.79%
Rental yield: 3.18%
Roughly 10 minutes from Wollongong, the suburb of Balgownie has undergone considerable development in recent years, making it one of the top growing suburbs in New South Wales.
Over the December 2016 quarter, Balgownie recorded a remarkably significant price increase of 12.5%, continuing a trend observed for the past five years. Even with this hike, vendors are able to sell houses at a low discount rate of just 4.7%.
One factor could be Balgownie’s proximity to the CBD. It is also bordered by Fairy Meadow, a light industrial and commercial area. Thus, Balgownie is highly convenient for professionals and provides easy access to amenities, since bus services can take commuters into town. The suburb offers homes for residents in various socioeconomic conditions, with public housing in the eastern side, townhouses, villas and mansions. There are also fine dining establishments, cafes and pubs in BaClose