Lemon Tree Passage is in the TOP 20% in NSW when comparing median price capital growth over the last year. Lemon Tree Passage gave property investors a very good capital gain figure when compared to the rest of the state, with 7.80%.
While Lemon Tree Passage,2319 ranked number 778th in NSW for increase in median house value (annualised) increase, it is ranked 592th over the last 5 years.
Our latest figures would indicate that property sellers in Lemon Tree Passage are currently offering property investors an average price cut of -4.98% below the asking price at the moment.
Often selling an investment property can take time, and in Lemon Tree Passage the average time real estate has been on the market is 78.9737 days.
With the median price for a house in Lemon Tree Passage being $463555 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.49%
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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.