Property investors who have had real estate in Wyong, 2259 should be unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -11.31%
A 28.44% growth in median value for property investors in Wyong,2259 puts this suburb at number 741th in terms of best performing suburbs in NSW
Wyong, 2259 is offering NSW ‘s 243th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this NSW.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 4.46%, without taking into account capital value appreciation, which has been averaging out at 6.74%.
Property investors who have had real estate in Wyong, 2259 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.86%
A 30.28% growth in median value for property investors in Wyong,2259 puts this suburb at number 478th in terms of best performing suburbs in NSW
Residents and property investors in Wyong have been waiting around 105 days to sell a property.
With the median price for a house in Wyong being $355000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 5.13%
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Wyong offers a number of opportunities for investors on a budget. Some 90km north of Sydney and surrounded on one side by the Tuggerah Lake, this regional NSW hub stills offers the possibility of finding deals around the $300,000 mark.
Located on Tuggerah Lake’s eastern side, Wyong is also 70km south of Newcastle, with train services making Sydney within one hour and 45 minutes reach and Newcastle accessible within an hour.
The suburb is well-equipped with amenities. Tuggerah Westfield shopping centre is 4km south of Wyong, and has 260 stores and an eight-screen Greater Union cinema. Wyong also has a public hospital (8km north-east of the CBD) and the Central Coast campus of the University of Newcastle is located in nearby Ourimbah (13km away).
“Around town there are some really good deals,” says Steve Hands, Professionals Wyong principal. “You can still buy a three-bedroom home under the $300,000-mark. There are riverfronts in our district that are selling for $150,000 less than what they were five years ago, so there’s a huge opportunity there.”
Just 10km north of Wyong, Warnervale city is undergoing major developments including a new medical complex. The first stage (which will cost about $4.5m, with $2.5m coming from the federal government) was approved in August and, once complete, will employ 45 staff. Stage two will cost an estimated $16m, and is expected to employ an additional 106 staff and up to 10 doctors.
“Warnervale city’s well underway,” says Hands, “so we’re struggling to keep up with the housing requirements in our area, that’s for sure.”