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 33.71%
Over the longer term, Balgownie has seen property prices show investors a 67.43% 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 -5.68% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Balgownie have been waiting around 89.54 days to sell a property.
Advertised rents are around the $480 mark per week – giving a return of 2.61% based on the median price in Suburb
At number 541th in the list of Australian suburbs ordered by increase in median house value over the last year, Balgownie, 2519 is in the top 40% with a property value increase of 8.65% recorded in median house prices.
Balgownie,2519 was ranked 550 in Australia by increase in median property value over the quarter.
Vendor discounting in Balgownie is giving property investors an average Vendor Discount of around -3.43%. This puts suburb at number 297th in NSW when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Balgownie the average time real estate has been on the market is 55.56 days.
Situated 63.46km from the CBD, Balgownie is one of Wollongong localities in the postcode 2519.
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