Investment property in Lemon Tree Passage 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 19.05%
The five-year average increase in median property values for Lemon Tree Passage,2319 has given property investors a potential capital gain of 43.78% across each of those five years.
Our latest figures would indicate that property sellers in Lemon Tree Passage are currently offering property investors an average price cut of -4.18% below the asking price at the moment.
In the last year 67 properties changed hands in Lemon Tree Passage, which puts it as the 559th most active market in NSW when comparing the number of sales per suburb.
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Housing supply gets padded
Median house price: $475,000
Stock on market: 64.7%
12-month growth: 12.6%
Known for its koala population due to the presence of so many trees, the suburb of Lemon Tree Passage is also a haven for holidaymakers because of its beautiful location on Port Stephens.
The suburb capitalises on its natural advantages by establishing coastal walking trails, such as Mangrove Board Walk and the Lilli Pilli Walk. The reserve on Helen Avenue also highlights the diverse native plant life found in this area. With some lovely swimming and picnic spots in the vicinity, Lemon Tree Passage is the perfect place to unwind, making it very popular with retirees.
The number of houses on the market soared from 17 to 27 in the 12 months to January 2019, for a 64.7% boost in housing supply. The suburb certainly looks to be capable of balancing the added stock with demand, with houses spending only 49 days on the market.