If you compare the increase in value of investment property in Parkes, 2870 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 3.54%.
A 8.04% growth in median value for property investors in Parkes,2870 puts this suburb at number 1124th in terms of best performing suburbs in NSW
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.50% offered to property buyers. Sellers in Parkes itself are offering an average vendor discount of -7.95% to real estate investors.
In the last year 209 properties changed hands in Parkes, which puts it as the 51th most active market in NSW when comparing the number of sales per suburb.
With the median price for a house in Parkes being $248500 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.44%
If we look at median property appreciation over just the last three months, Parkes has given property investors a paper return of 30.24%. This puts Suburb as 1 on a list of fastest fasting appreciating suburbs in NSW
On average over the past year, suburb has had 1.08 sales per month, which equates to 13 per year.