Property investors who have had real estate in Welby, 2575 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices unmoved in value by 0.00%
Sellers are offering property buyers an average discount of -6.47% to buyers in Welby at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Welby the average time real estate has been on the market is 62 days.
A $490 per week rent on the median house gives suburb investors a gross yield of circa 4.76%, without taking into account capital value appreciation, which has been averaging out at 8.01%.
Formerly known as Fitzroy, the suburb of Welby in New South Wales has recorded a strong performance over the past 12 months.Full summary
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A smart location with rising house values
Median house price: $582,500
Three-year growth: 45.63%
Rental yield: 4.02%
Formerly known as Fitzroy, the suburb of Welby in New South Wales has recorded a strong performance over the past 12 months.
House prices have soared by nearly 33% in this period, bringing the median price to over $582,000. Even with the high values, houses sell like hotcakes – they spend just over 30 days on the market on average, and are bought at an average discount of under 5%. Many investors are likely keen on this suburb due to its reasonable average yield of 4%.
This small suburb is located next to the larger town of Mittagong, which is a well-known tourist spot given its proximity to Mount Gibraltar and Lake Alexandra. Thus, Welby residents have easy access to shops and public transport like trains, buses and coaches.Close