At number 248th in the list of Australian suburbs ordered by increase in median house value over the last year, Mount Colah, 2079 is in the top 10% with a property value increase of 18.56% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mount Colah has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Mount Colah is offering property investors an average of -4.31. This rate of discount on properties puts Suburb at number 673th in terms of most discounted suburbs in NSW
At number 46 in a list of fastest selling suburbs, Mount Colah is in the TOP 10% of suburbs in Australia with an average of days on market 27.8 for properties listed there.
Mount Colah, 2079’s gross rental yield is 2.70%
Mount Colah has had a quite poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of 1.63% to date .
Mount Colah,2079 was ranked 531 in Australia by increase in median property value over the quarter.
Mount Colah, 2079 is offering NSW ‘s 238th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this NSW.
In the last year 58 properties changed hands in Mount Colah, which puts it as the 212th most active market in NSW when comparing the number of sales per suburb.
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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.