Over the last year, property investments in Corlette, 2315 have given investors a capital gain of 5.64%. This compares favourably with the 4.04% for NSW as a whole.
Over the longer term, Corlette has seen property prices show investors a 26.01% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Corlette is offering property investors an average of -6.18. This rate of discount on properties puts Suburb at number 846th in terms of most discounted suburbs in NSW
Property investors should expect to get $495 weekly from the median priced house in this suburb.
If you compare the increase in value of investment property in Corlette, 2315 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 15.22%.
Across a shorter period, Corlette, 2315 has seen a median price increase of 3.92% over the last quarter.
In the last year 22 properties changed hands in Corlette, which puts it as the 427th most active market in NSW when comparing the number of sales per suburb.
Advertised rents are around the $385 mark per week – giving a return of 3.78% based on the median price in Suburb
Part of the Port Stephens LGA in NSW’s Hunter region, the suburb of Corlette is looking very tight for rentersFull summary
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Vacancies are low
Median unit price: $528,500
Vacancy rate: 4.2%
Three-year growth: 33.8%
Part of the Port Stephens LGA in NSW’s Hunter region, the suburb of Corlette is looking very tight for renters. The average vacancy rate fell from 7.4% to 4.2% in the 12 months to June 2018, with rents at an average of $410 per week. The average yield comes in at a reasonable 4%.
Corlette is certainly looking to be popular with residents, as the suburb has recorded strong growth since 2013. In the June 2017-2018 period alone, the unit market saw prices soar by almost 20% to hit a median of $528,500.
Corlette is surrounded by water – it is bordered by Salamander Bay and Nelson Bay. The houses on the shores of Salamander Bay are said to command the highest prices. Port Stephens lies to the north of Corlette, and is home to a marine park. Close