With a capital gain of 13.27% for the last 12 months, Balgownie, 2519 has performed for property investments than its average annual 6.86% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Balgownie,2519 has racked up an average of 13.27% over the period. This ranks it number 578th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Balgownie is $832500, with sellers offering an average of -4.26% off the asking price.
Advertised rents are around the $480 mark per week – giving a return of 3.00% based on the median price in Suburb
Balgownie has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 13.76% to date .
While Balgownie,2519 ranked number 378th in NSW for increase in median house value (annualised) increase, it is ranked 228th 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 -4.08% is being offered, which puts this NSW suburb at 1071th most discounted overall in Australia.
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