Giving property investors a an unimpressive capital gain of -5.53% for the last year, Kariong, 2250 is the 2787th highest performer in Australia in this respect.
Across a shorter period, Kariong, 2250 has seen a median price increase of -1.00% over the last quarter.
Property investors looking for a bargain in Kariong should be aiming for at least -5.59% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $510 and the average annual increase in value of a median property of 6.15%, investors should hope to achieve an overall return of 4.14%
Information supplied by:
Occupancies almost non-existent
Median house price: $673,200
Vacancy rate: 0.5%
Three-year growth: 39.1%
Situated along the Central Coast, the suburb of Kariong is the site of the Gosford glyphs. It has grown even more popular with renters in the May 2017-2018 period, as the average vacancy rate fell sharply from 1.4% to 0.5%.
The weekly rent rate comes in at $510, with landlords able to reap an average rental return of 3.9%. While house prices have increased consistently since 2013, the May 2018 quarter recorded a 1% drop in values.
Kariong’s appeal to renters may be in its proximity to Gosford. Buses leaving from Langford Drive can take commuters to the CBD, and Kariong residents have access to amenities in the third largest urban centre in the state. This includes shopping districts like William Street Mall and the Imperial Shopping Centre, as well as recreational spots like Kibble Park.