Elermore Vale is in the bottom 20% in NSW when comparing median price capital growth over the last year. Elermore Vale gave property investors a dismal capital gain figure when compared to the rest of the state, with -9.00%.
Elermore Vale,2287 has offered an average of -9.00% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Elermore Vale is giving property investors an average Vendor Discount of around -7.22%. This puts suburb at number 293th in NSW when ranking the most discounted suburbs.
Property investors should expect to get $450 weekly from the median priced house in this suburb.
Giving property investors a a stable capital gain of 6.71% for the last year, Elermore Vale, 2287 is the 387th highest performer in Australia in this respect.
Elermore Vale,2287 has offered an average of 6.71% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Elermore Vale should be aiming for at least -4.08% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 4.67 sales per month, which equates to 56 per year.
Using the current median advertised rental of $430 and the average annual increase in value of a median property of 5.85%, investors should hope to achieve an overall return of 4.93%
Information supplied by:
Houses sell quickly
Median house price: $582,500
Three-year growth: 26.6%
Rental yield: 3.8%
The home of Macquarie College, a top private co-ed school in Newcastle, Elermore Vale is a suburb on the western outskirts of Newcastle.
It sits on the fringes of Newcastle in the west. Prior to its development, the land was used by farmers for cattle and chicken rearing. By the 1960s, however, amenities had been constructed, giving residents access to facilities like a community centre, which hosts workshops and classes. The suburb is home to the Viking Aquatic and Fitness Centre, along with sports fields and parks.
While popular with families, the suburb also caters to retirees. The median house price has settled in at $582,500 after values increased by 8.4% in the August 2017-2018 period. This continues a fairly strong positive trend that has been observed since 2013. Demand is evident in how houses are only on the market for an average of 47 days.