Investment property in Kariong has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 18.05%
Taking the average capital gain, or increase in median house value, Kariong,2250 has racked up an average of 18.05% over the period. This ranks it number 2380th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -2.44% to buyers in Kariong at the moment, which is less than average for the rest of NSW.
On average over the past year, suburb has had 8.08 sales per month, which equates to 97 per year.
With the median price for a house in Kariong being $773250 and the advertised rent reaching $560 the gross rental yield for property investors calculates out to be 3.77%
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.