At number 160th in the list of Australian suburbs ordered by increase in median house value over the last year, Dudley, 2290 is in the top 10% with a property value increase of 24.00% recorded in median house prices.
Comparing Dudley,2290 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
A $495 per week rent on the median house gives suburb investors a gross yield of circa 3.03%, without taking into account capital value appreciation, which has been averaging out at 9.43%.
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Strong suburb stumbles
Median house price: $688,000
Three-year growth: 5.8%
Rental yield: 3.4%
Situated on the south coast of Newcastle, the suburb of Dudley is around two hours’ drive from Sydney. The housing market has been going strong for most part, but stumbled significantly in the 12 months to August 2018.
Prices fell by 9.1% in that period, although the three months to August suggested some recovery. The average annual growth rate also holds at 6.8%.
Originally, Dudley was established as a mining town before being developed into a residential area after World War II. It houses Dudley Public School, which was established back in 1892. The suburb lies on the eastern side of Lake Macquarie, and is near the cycling trail that connects the lake to Newcastle. Dudley Beach is less than five minutes away, and residents are in close proximity to shopping districts and park areas.