At number 2707th in the list of Australian suburbs ordered by increase in median house value over the last year, Mount Druitt, 2770 is in the BOTTOM 40% with a property value increase of -4.41% recorded in median house prices.
Comparing Mount Druitt,2770 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Mount Druitt 2770 should be seeing an average reduction in asking price of around -6.91% . This means that Mount Druitt is holding prices well when compared to other suburbs in NSW.
Advertised rents are around the $400 mark per week – giving a return of 3.20% based on the median price in Suburb
Giving property investors a an unimpressive capital gain of -7.05% for the last year, Mount Druitt, 2770 is the 1091th highest performer in Australia in this respect.
Mount Druitt,2770 was ranked 899 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Mount Druitt is offering property investors an average of -6.79. This rate of discount on properties puts Suburb at number 61th in terms of most discounted suburbs in NSW
At number 642 in a list of fastest selling suburbs, Mount Druitt is just in the top half of suburbs in Australia with an average of days on market 73.7838 for properties listed there.
With the median price for a house in Mount Druitt being $409000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 4.45%
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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%.