Investment property in Belmont has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.91%
The five-year average increase in median property values for Belmont,2280 has given property investors a potential capital gain of 31.29% across each of those five years.
The most recent median price for Belmont is $610500, with sellers offering an average of -5.22% off the asking price.
At number 1356 in a list of fastest selling suburbs, Belmont is in the TOP 40% of suburbs in Australia with an average of days on market 65.0588 for properties listed there.
Property value increases in Belmont have tracked lower than the NSW average of 2.36% 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 Belmont has increased when compared to the 5 year average annual rate.
Advertised rents are around the $380 mark per week – giving a return of 4.44% based on the median price in Suburb
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Information supplied by:
August 2018
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Houses sell in Lake Macquarie suburb
Postcode: 2280
Median house price: $640,000
Three-year growth: 39.1%
Rental yield: 3.4%
In the Newcastle region, the suburb of Belmont is one of the top growing house markets in NSW.
The median value comes in at $640,000 following 32% growth in the May 2017-2018 period. This continues an ongoing streak of positive growth observed since 2013, and brings Belmont’s average annual growth rate to 6.7%.
Belmont is 20km from the Newcastle CBD, and lies on the eastern shore of Lake Macquarie. It is the home of many restaurants offering a beautiful view of the water, and the Belmont Bay foreshore serves as an ideal picnic and recreation spot. Residents and visitors to Belmont also enjoy activities like fishing, sailing, kayaking and surfing. The Belmont Airport offers skydiving sessions above Lake Macquarie, while the Lake Macquarie Carnival is great for families on holiday. Walking and cycling tracks are strewn across the Belmont Wetlands.