Investment property in Dudley has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 22.14%
Dudley,2290 was ranked 1319 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -7.71% to buyers in Dudley at the moment, which is less than average for the rest of NSW.
A $480 per week rent on the median house gives suburb investors a gross yield of circa 2.92%, without taking into account capital value appreciation, which has been averaging out at 8.74%.
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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.