With a capital gain of 1.06% for the last 12 months, Narara, 2250 has performed for property investments than its average annual 6.55% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Narara has increased when compared to the 5 year average annual rate.
Narara, 2250 is offering NSW ‘s 114th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
In the last year 123 properties changed hands in Narara, which puts it as the 149th most active market in NSW when comparing the number of sales per suburb.
The NSW suburb of Narara, 2250 is in the Central Coast (C) (NSW) local government area.
Narara is an average performer in NSW when comparing median price capital growth over the last year. Narara gave property investors a average capital gain figure when compared to the rest of the state, with 0.43%.
Taking the average capital gain, or increase in median house value, Narara,2250 has racked up an average of 0.43% over the period. This ranks it number 700th in the whole country for real estate investors looking at median house price increases.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of 5.57%, investors should hope to achieve an overall return of 4.42%
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Renovation potential abounds
Median house price: $635,000
Three-year growth: 37.4%
Rental yield: 3.8%
Located around 4km north of Gosford’s CBD on the Central Coast, the suburb of Narara is a primarily residential suburb, serviced by the Narara Railway Station.
A popular suburb with families, both renters and homeowners alike, Narara boasts its own corner shop and bottleshop, along with a number of parks, sporting grounds, a public skatepark and two schools. It is also home to the Narara Ecovillage, a sustainable community that aims to become a stylish, intergenerational collective that blends the principles of ecological and social sustainability.
A solid brick home on a decent size block of around 600-650m2 is the ideal choice in this neighbourhood, as it suits a wide range of potential tenants. There are plenty of properties in the area that could be improved through a strategic renovation, giving landlords the opportunity to build immediate equity into their investment.