With a capital gain of -6.23% for the last 12 months, Narara, 2250 has performed for property investments than its average annual 6.68% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Narara has given property investors a paper return of -4.63%. This puts Suburb as 1097 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Narara is $587500, with sellers offering an average of -6.64% off the asking price.
On average over the past year, suburb has had 7.92 sales per month, which equates to 95 per year.
Property investors should expect to get $460 weekly from the median priced house in this suburb.
At number 635th in the list of Australian suburbs ordered by increase in median house value over the last year, Narara, 2250 is in the top half with a property value increase of -0.54% recorded in median house prices.
While Narara,2250 ranked number 92th in NSW for increase in median house value (annualised) increase, it is ranked 74th over the last 5 years.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
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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.