Over the last year, property investments in Boolaroo, 2284 have given investors a capital gain of 1.04%. This compares very badly with the 9.21% for NSW as a whole.
Boolaroo,2284 was ranked 2147 in Australia by increase in median property value over the quarter.
Residents and property investors in Boolaroo have been waiting around 83.5455 days to sell a property.
Information supplied by:
Significant growth in Lake Macquarie suburb
Median house price: $515,000
Three-year growth: 46.7%
Rental yield: 3.8%
The epicentre of the Newcastle earthquake that occurred in 1989, Boolaroo is now shaking up the local property market.
This suburb reported 32% growth in the house market in the year leading up to the end of September 2017, boosting the median value to $515,000. While rental yields are not particularly high at 3.8%, this suburb has a bright future in terms of capital gains, as it has been performing very well throughout the recent five-year period.
Cockle Creek railway station, which is a stop on the Central Coast and Newcastle line, is located in Boolaroo, facilitating easy commutes. The suburb is also home to Boolaroo Public School, a supermarket, shops and churches. Boolaroo is about 30 minutes’ drive from Lake Macquarie.