Property value increases in Ourimbah have tracked just higher than the NSW average of 0.15% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Ourimbah has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in Ourimbah should be aiming for at least -7.65% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Ourimbah the average time real estate has been on the market is 99.4375 days.
At number 301th in the list of Australian suburbs ordered by increase in median house value over the last year, Ourimbah, 2258 is in the top 20% with a property value increase of 8.88% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Ourimbah,2258 has racked up an average of 8.88% over the period. This ranks it number 507th in the whole country for real estate investors looking at median house price increases.
On average over the past year, suburb has had 1.00 sales per month, which equates to 12 per year.
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Affordable suburb stumbles
Median unit price: $410,000
Three-year growth: 11.6%
Rental yield: 4.8%
The suburb of Ourimbah is beloved by families as being a great place to raise children in a quiet, environmentally friendly community.
The suburb is reasonably affordable, with a median unit price of just over $400,000. While prices slipped over the December 2017-2018 period, Ourimbah has had a strong track record of growth over the past five years.
What the suburb lacks in entertainment and dining options, it makes up for in its proximity to surfing beaches and local nature trails. Ourimbah is an outdoors community, and is festooned with trees. However, it has no shortage of amenities either, with the trains on the Sydney-Newcastle railway line passing through the local railway station. Ourimbah Public School is the oldest educational institution on the Central Coast, and the University of Newcastle has a campus right in town.