Property value increases in Beresfield have tracked higher than the NSW average of 1.39% over the last 12 months.
Across a shorter period, Beresfield, 2322 has seen a median price increase of 3.27% over the last quarter.
Property investors looking for a bargain in Beresfield should be aiming for at least -4.55% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
At number 689th in the list of Australian suburbs ordered by increase in median house value over the last year, Beresfield, 2322 is in the top half with a property value increase of 2.34% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Beresfield,2322 has racked up an average of 2.34% over the period. This ranks it number 305th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Beresfield is $327500, with sellers offering an average of -1.82% off the asking price.
Residents and property investors in Beresfield have been waiting around 18 days to sell a property.
Advertised rents are around the $340 mark per week – giving a return of 5.40% based on the median price in Suburb
Located 22km northwest of the Newcastle CBD, the suburb of Beresfield attracts residents due to its convenienceFull summary
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Everything falls into place for Newcastle suburb
Median unit price: $327,500
Three-year growth: 25.4%
Rental yield: 5.4%
Located 22km northwest of the Newcastle CBD, the suburb of Beresfield attracts residents due to its convenience.
Apartment values rose by 2.3% over the 12 months to January 2019, but the median price remains quite affordable at under $350,000. This affordability could be a reason why such properties barely get comfortable on the market before being snapped up, spending an average of less than 20 days on sale. Investors can even reap remarkable yields of 5.4% on average.
The northern side of Beresfield contains the local shopping centre and railway station, which is part of the Hunter line. To the south are the suburb’s sports facilities, including the bowling club, swimming pool, oval and golf course. The Newcastle Memorial Park cemetery is situated on this side of town as well.
The suburb is community-oriented, with youth organisations that reach out to the disadvantaged.Close