With a capital gain of -3.78% for the last 12 months, Lemon Tree Passage, 2319 has performed for property investments than its average annual 5.77% property growth over the last 5 years.
While Lemon Tree Passage,2319 ranked number 1225th in NSW for increase in median house value (annualised) increase, it is ranked 825th over the last 5 years.
Vendor discounting in Lemon Tree Passage is giving property investors an average Vendor Discount of around -6.26%. This puts suburb at number 621th in NSW when ranking the most discounted suburbs.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 4.80%, without taking into account capital value appreciation, which has been averaging out at 5.77%.
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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.