Investment property in Kariong has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -5.11%
Over the longer term, Kariong has seen property prices show investors a 7.44% return over the last 3 years. This is worse than over the last 12 months
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.34% offered to property buyers. Sellers in Kariong itself are offering an average vendor discount of -5.25% to real estate investors.
Advertised rents are around the $510 mark per week – giving a return of 4.08% based on the median price in Suburb
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.