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 4.01%.
The five-year average increase in median property values for Narara,2250 has given property investors a potential capital gain of -4.26% across each of those five years.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -2.11% offered to property buyers. Sellers in Narara itself are offering an average vendor discount of -4.98% to real estate investors.
Often selling an investment property can take time, and in Narara the average time real estate has been on the market is 51.9868 days.
Renters in Suburb are facing rents around $19760 per annum or $380 every week.
If you compare the increase in value of investment property in Narara, 2250 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was 2.90%.
Taking the average capital gain, or increase in median house value, Narara,2250 has racked up an average of 2.90% over the period. This ranks it number 1990th in the whole country for real estate investors looking at median house price increases.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -2.31% offered to property buyers. Sellers in Narara itself are offering an average vendor discount of -4.28% to real estate investors.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 4.40%, without taking into account capital value appreciation, which has been averaging out at 4.71%.
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Information supplied by:
January 2019
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Renovation potential abounds
Postcode: 2250
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.