Property value increases in Wyong have tracked just lower than the NSW average of 0.15% over the last 12 months.
Wyong,2259 was ranked 1584 in Australia by increase in median property value over the quarter.
Property buyers and investors in Wyong 2259 should be seeing an average reduction in asking price of around -8.24% . This means that Wyong is holding prices well when compared to other suburbs in NSW.
Often selling an investment property can take time, and in Wyong the average time real estate has been on the market is 101.071 days.
Giving property investors a a poor capital gain of -15.58% for the last year, Wyong, 2259 is the 1417th highest performer in Australia in this respect.
Comparing Wyong,2259 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors should expect to get $320 weekly from the median priced house in this suburb.
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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.”