At number 3053th in the list of Australian suburbs ordered by increase in median house value over the last year, Mount Druitt, 2770 is in the BOTTOM 30% with a property value increase of -5.11% recorded in median house prices.
Over the longer term, Mount Druitt has seen property prices show investors a 3.17% return over the last 3 years. This is worse than over the last 12 months
Mount Druitt, 2770 is offering NSW ‘s 345th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NSW.
Property investors who have had real estate in Mount Druitt, 2770 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -5.09%
The five-year average increase in median property values for Mount Druitt,2770 has given property investors a potential capital gain of 41.87% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Mount Druitt is offering property investors an average of -6.52. This rate of discount on properties puts Suburb at number 74th in terms of most discounted suburbs in NSW
In the last year 121 properties changed hands in Mount Druitt, which puts it as the 100th most active market in NSW when comparing the number of sales per suburb.
Mount Druitt is 163th on a list of best yielding suburbs for rents in NSW with a 4.44% return
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Affordable suburb sustains demand
Median unit price: $425,000
Three-year growth: 34.9%
Rental yield: 4.3%
Named for original landowner Major George Druitt, the suburb of Mount Druitt has been undergoing redevelopment to maximise its excellent amenities, including a hospital, shopping centre, train station and schools.
Given its distance from the Sydney CBD, the suburb is quite affordable, with the median unit price coming in at $425,000. Even with the low prices, Mount Druitt has recorded steady growth over the past five years, with an average annual growth rate of 7%. Rental returns are reasonable at an average of 4.3%, which could be attractive for investors looking for a cheaper investment in NSW.
Sellers benefit from the strong conditions in this suburb – apartments spend an average of just 44 days on the market before being sold. They sell at good prices as well – the average discount rate is just 4%.