Property investors who have had real estate in Balgownie, 2519 should be 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 13.31%
If we look at median property appreciation over just the last three months, Balgownie has given property investors a paper return of 3.43%. This puts Suburb as 478 on a list of fastest fasting appreciating suburbs in NSW
Sellers are offering property buyers an average discount of -4.26% to buyers in Balgownie at the moment, which is less than average for the rest of NSW.
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 15.35%. This compares very favourably with the 5.73% for NSW as a whole.
Over the longer term, Balgownie has seen property prices show investors a 42.53% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in Balgownie should be aiming for at least -4.08% off the asking price, which is the average vendor discount being achieved at the moment.
At number 99 in a list of fastest selling suburbs, Balgownie is in the TOP 10% of suburbs in Australia with an average of days on market 39.79 for properties listed there.
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