Suburb Profile Report for Elermore Vale NSW (2287)

Elermore Vale House: Median price $590,000, Annual capital growth 5.63%, Number of sales 69, Weekly median advertised rent $440

Elermore Vale Unit: Median price $367,500, Annual capital growth 7.27%, Number of sales 24, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

Information supplied by:


November 2018

M
O

W
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Houses sell quickly

Postcode: 2287

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.

Metrics i HOUSE UNIT
$590,000 $367,500
-1.67% -2.00%
2.97% -12.34%
5.63% 7.27%
$440 $380
69 24
3.88% 5.38%
61.8301886792453 45.4545454545455

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Above average (U)
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Demographics
Total population 5186
Median household income ($/weekly) 1212
Median age of persons 39
Median housing loan repayment ($/monthly) 1733
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 686 13.2
    25-34 years 613 11.8
    35-44 years 653 12.6
    45-54 years 708 13.7
    55-64 years 695 13.4
    Others 1831 35.3
    Age Group
    Census Count Percent(%)
    Registered Married 2090 54.5
    Not Married 1476 38.5
    Defacto Relationship 268 7.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 4343 86.9
    Germany 84 1.7
    Indonesia 47 0.9
    United Kingdom 141 2.8
    Other 86 1.7
    Others 297 5.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 0.7
    Christianity 3872 79.5
    Hinduism 48 1.0
    Islam 53 1.1
    No Religion 845 17.3
    Others 23 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 197 11.7
    $600-$799 149 8.8
    $1,000-$1,249 154 9.1
    $1,500-$1,999 206 12.2
    $2,000-$2,499 154 9.1
    Others 824 48.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1468 36.7
    Not in the labour force 1440 36.0
    Employed, worked part-time 815 20.4
    Employed, away from work 142 3.6
    Unemployed, looking for work 131 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 536 22.1
    Technicians & trades workers 370 15.3
    Community & personal service workers 243 10.0
    Clerical & administrative workers 382 15.8
    Sales 243 10.0
    Others 647 26.7
    Occupation
    Census Count Percent(%)
    Pre-school 90 7.2
    Infants/Primary 463 37.0
    Secondary 306 24.4
    Technical or Further Educational Institution 120 9.6
    University or other Tertiary Institutions 240 19.2
    Others 33 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3954 82.0
    Semi-detached, row or terrace house, townhouse 778 16.1
    Flat, unit or apartment 85 1.8
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 651 35.9
    Being purchased 642 35.4
    Rented 507 28.0
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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