NSW has seen average median house prices change by -2.96% which means that Beresfield, 2322 has not done well for property investors by showing a capital gain of 2.63% over the last year
Taking the average capital gain, or increase in median house value, Beresfield,2322 has racked up an average of 2.63% over the period. This ranks it number 681th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Beresfield 2322 should be seeing an average reduction in asking price of around -6.37% . This means that Beresfield is holding prices well when compared to other suburbs in NSW.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
Over the last year, property investments in Beresfield, 2322 have given investors a capital gain of -2.90%. This compares averagely with the -3.67% for NSW as a whole.
With the median price for a house in Beresfield being $335000 and the advertised rent reaching $355 the gross rental yield for property investors calculates out to be 5.51%
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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.