With a capital gain of 23.97% for the last 12 months, Balgownie, 2519 has performed for property investments than its average annual 7.85% property growth over the last 5 years.
Across a shorter period, Balgownie, 2519 has seen a median price increase of 6.16% over the last quarter.
Balgownie, 2519 is offering NSW ‘s 977th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this NSW.
In the last year 49 properties changed hands in Balgownie, which puts it as the 673th most active market in NSW when comparing the number of sales per suburb.
Investment property in Balgownie has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.45%
Balgownie,2519 has offered an average of 15.45% return per annum in house price rises to property investors over the last three years.
The most recent median price for Balgownie is $635000, with sellers offering an average of -3.74% off the asking price.
Often selling an investment property can take time, and in Balgownie the average time real estate has been on the market is 55.38 days.
Balgownie, 2519’s gross rental yield is 3.85%
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
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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