If you compare the increase in value of investment property in Narara, 2250 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 18.88%.
A 38.97% growth in median value for property investors in Narara,2250 puts this suburb at number 362th in terms of best performing suburbs in NSW
Vendor discounting in Narara is giving property investors an average Vendor Discount of around -5.80%. This puts suburb at number 104th in NSW when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Narara the average time real estate has been on the market is 25.1913 days.
Using the current median advertised rental of $510 and the average annual increase in value of a median property of 8.53%, investors should hope to achieve an overall return of 3.58%
Narara is in the TOP 30% in NSW when comparing median price capital growth over the last year. Narara gave property investors a good capital gain figure when compared to the rest of the state, with 13.74%.
When looking at the potential capital gains offered to property investors over the last 3 years, Narara comes in at number 185th in NSW.
With the median price for a house in Narara being $517500 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 4.12%
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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.