At number 653th in the list of Australian suburbs ordered by increase in median house value over the last year, West Nowra, 2541 is in the top 20% with a property value increase of 13.48% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, West Nowra comes in at number 86th in NSW.
LACK OF BUYER INTEREST may well be the reason that West Nowra is offering property investors an average of -5.93. This rate of discount on properties puts Suburb at number 1036th in terms of most discounted suburbs in NSW
At number 457 in a list of fastest selling suburbs, West Nowra is in the TOP 20% of suburbs in Australia with an average of days on market 44.15 for properties listed there.
With the median price for a house in West Nowra being $505000 and the advertised rent reaching $385 the gross rental yield for property investors calculates out to be 3.96%
Situated west of the bustling town of Nowra, the suburb of West Nowra has generally been a significant grower in the NSW house market. However, CoreLogic’s findings from the November 2017 quarter indicated a 1.7% decrease in prices that brought the median house value down to under $450,000Full summary
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Houses stumble in Nowra neighbour
Median house price: $445,000
Three-year growth: 41.5%
Rental yield: 4.3%
Situated west of the bustling town of Nowra, the suburb of West Nowra has generally been a significant grower in the NSW house market. However, CoreLogic’s findings from the November 2017 quarter indicated a 1.7% decrease in prices that brought the median house value down to under $450,000.
This makes West Nowra houses quite affordable, which, coupled with the reasonable yield of 4.3%, could be a draw for investors. Demand is still strong, with vendors selling at an average discount of just 3.7%. Houses spend an average of just 54 days on the market.
West Nowra residents are in close proximity to the amenities of Nowra. In addition to being a major tourist destination for Sydneysiders and Canberrans, Nowra is also popular with retirees, which makes West Nowra a prospective spot for older people looking to live near the water.Close