Suburb Profile Report for Corlette NSW (2315)

Corlette House: Median price $702,500, Annual capital growth 4.12%, Number of sales 142, Weekly median advertised rent $495

Corlette Unit: Median price $530,000, Annual capital growth 4.95%, Number of sales 22, Weekly median advertised rent $385

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

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

Information supplied by:


September 2018

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Part of the Port Stephens LGA in NSW’s Hunter region, the suburb of Corlette is looking very tight for rentersFull summary

Vacancies are low

Postcode: 2315

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
Metrics i HOUSE UNIT
$702,500 $530,000
0.79% 3.92%
5.64% 15.22%
4.12% 4.95%
$495 $385
142 22
3.66% 3.78%
65.6 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 4640
Median household income ($/weekly) 1105
Median age of persons 46
Median housing loan repayment ($/monthly) 1733
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 565 12.2
    35-44 years 569 12.3
    45-54 years 589 12.7
    55-64 years 647 13.9
    65-74 years 701 15.1
    Others 1568 33.8
    Age Group
    Census Count Percent(%)
    Registered Married 2007 60.7
    Not Married 1042 31.5
    Defacto Relationship 255 7.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3630 82.2
    Papua New Guinea 73 1.7
    United Kingdom 360 8.2
    United States of America 40 0.9
    Other 81 1.8
    Others 231 5.2
    Country of Birth
    Census Count Percent(%)
    Christianity 3412 79.8
    No Religion 825 19.3
    Buddhism 22 0.5
    Other Religious Groups 11 0.3
    Hinduism 4 0.1
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 169 11.4
    $600-$799 171 11.6
    $800-$999 167 11.3
    $1,500-$1,999 178 12.0
    $2,000-$2,499 137 9.3
    Others 658 44.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1667 45.9
    Employed, worked full-time 1032 28.4
    Employed, worked part-time 698 19.2
    Employed, away from work 148 4.1
    Unemployed, looking for work 88 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 269 14.3
    Professionals 342 18.2
    Technicians & trades workers 280 14.9
    Clerical & administrative workers 249 13.3
    Sales 253 13.5
    Others 484 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 96 9.9
    Infants/Primary 343 35.4
    Secondary 326 33.6
    Technical or Further Educational Institution 70 7.2
    University or other Tertiary Institutions 106 10.9
    Others 29 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3202 77.2
    Semi-detached, row or terrace house, townhouse 770 18.6
    Flat, unit or apartment 168 4.1
    Caravan, cabin, houseboat 3 0.1
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 721 43.8
    Being purchased 471 28.6
    Rented 448 27.2
    Other tenure type 7 0.4
    Tenure Type
Census 2011, ABS
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