Elermore Vale has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 2.97% to date .
Across a shorter period, Elermore Vale, 2287 has seen a median price increase of -1.67% over the last quarter.
Property buyers and investors in Elermore Vale 2287 should be seeing an average reduction in asking price of around -7.22% . This means that Elermore Vale is holding prices well when compared to other suburbs in NSW.
Often selling an investment property can take time, and in Elermore Vale the average time real estate has been on the market is 61.8302 days.
With the median price for a house in Elermore Vale being $590000 and the advertised rent reaching $440 the gross rental yield for property investors calculates out to be 3.88%
Elermore Vale, 2287 ranked 435th in NSW when comparing growth in median property values or capital gain over the last 12 months. Elermore Vale is one of 3163 in our list for NSW
If we look at median property appreciation over just the last three months, Elermore Vale has given property investors a paper return of -2.00%. This puts Suburb as 280 on a list of fastest fasting appreciating suburbs in NSW
Sellers are offering property buyers an average discount of -6.44% to buyers in Elermore Vale at the moment, which is less than average for the rest of NSW.
Residents and property investors in Elermore Vale have been waiting around 45.4545 days to sell a property.
The NSW suburb of Elermore Vale, 2287 is in the Newcastle (C) local government area.
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Houses sell quickly
Median house price: $582,500
Three-year growth: 26.6%
Rental yield: 3.8%
The home of Macquarie College, a top private co-ed school in Newcastle, Elermore Vale is a suburb on the western outskirts of Newcastle.
It sits on the fringes of Newcastle in the west. Prior to its development, the land was used by farmers for cattle and chicken rearing. By the 1960s, however, amenities had been constructed, giving residents access to facilities like a community centre, which hosts workshops and classes. The suburb is home to the Viking Aquatic and Fitness Centre, along with sports fields and parks.
While popular with families, the suburb also caters to retirees. The median house price has settled in at $582,500 after values increased by 8.4% in the August 2017-2018 period. This continues a fairly strong positive trend that has been observed since 2013. Demand is evident in how houses are only on the market for an average of 47 days.