At number 2352th in the list of Australian suburbs ordered by increase in median house value over the last year, Kariong, 2250 is in the BOTTOM 50% with a property value increase of 8.96% recorded in median house prices.
Across a shorter period, Kariong, 2250 has seen a median price increase of 2.10% over the last quarter.
Vendor discounting in Kariong is giving property investors an average Vendor Discount of around -3.05%. This puts suburb at number 621th in NSW when ranking the most discounted suburbs.
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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.