At number 2916th in the list of Australian suburbs ordered by increase in median house value over the last year, Kariong, 2250 is in the BOTTOM 30% with a property value increase of -1.50% recorded in median house prices.
Comparing Kariong,2250 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Kariong 2250 should be seeing an average reduction in asking price of around -2.30% . This means that Kariong is holding prices well when compared to other suburbs in NSW.
A $440 per week rent on the median house gives suburb investors a gross yield of circa 3.49%, without taking into account capital value appreciation, which has been averaging out at 5.85%.
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Information supplied by:
August 2018
M
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Occupancies almost non-existent
Postcode: 2250
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.