NSW has seen average median house prices change by 0.15% which means that Mount Colah, 2079 has done well for property investors by showing a capital gain of -1.34% over the last year
Comparing Mount Colah,2079 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Mount Colah is $1028500, with sellers offering an average of -8.65% off the asking price.
Residents and property investors in Mount Colah have been waiting around 60.5778 days to sell a property.
A $640 per week rent on the median house gives suburb investors a gross yield of circa 3.24%, without taking into account capital value appreciation, which has been averaging out at 6.37%.
With a capital gain of -3.91% for the last 12 months, Mount Colah, 2079 has performed for property investments than its average annual -2.32% property growth over the last 5 years.
Over the longer term, Mount Colah has seen property prices show investors a 4.24% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Mount Colah are currently offering property investors an average price cut of -6.15% below the asking price at the moment.
On average over the past year, suburb has had 4.50 sales per month, which equates to 54 per year.
Renters in Suburb are facing rents around $23920 per annum or $460 every week.
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Property stock skyrockets
Median house price: $1,200,000
Stock on market: 200.0%
12-month growth: 15.4%
A suburb of northern Sydney, located around 29km from the CBD, Mount Colah is well situated near the Pacific Highway. It’s median house price of $1.2m indicates its status as a premium suburb that attracts very strong demand from buyers.
Housing stock increased sharply from just 13 houses in 2017 to 33 in the space of 12 months, while the supply of units soared from 5 to 21. Despite this increased level of stock available, growth has not slowed down in the April 2017-2018 period, particularly for house prices, which rose by 15.4%. Such dwellings also spent an average of just 41 days on the market.
With a sparkling reputation – in 2010, Mount Colah was awarded Australia’s Best Suburb in a Ninemsn survey – it is well served by trains running along the Main North Line and buses. It is also part of the commercial area of Bobbin Head.