Investment property in Boolaroo has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.95%
Taking the average capital gain, or increase in median house value, Boolaroo,2284 has racked up an average of 9.95% over the period. This ranks it number 1392th in the whole country for real estate investors looking at median house price increases.
With the median price for a house in Boolaroo being $503000 and the advertised rent reaching $442.5 the gross rental yield for property investors calculates out to be 4.57%
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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.