Investment property in Boolaroo 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 9.60%
Over the longer term, Boolaroo has seen property prices show investors a 44.21% return over the last 3 years. This is worse than over the last 12 months
Boolaroo, 2284’s gross rental yield is 4.46%
Boolaroo,2284 was ranked 534 in Australia by increase in median property value over the quarter.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 13.24%, without taking into account capital value appreciation, which has been averaging out at 5.40%.
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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.