Suburb Profile Report for Elermore Vale NSW (2287)

Elermore Vale House: Median price $584,000, Annual capital growth 5.52%, Number of sales 68, Weekly median advertised rent $440

Elermore Vale Unit: Median price $390,000, Annual capital growth 7.64%, Number of sales 27, Weekly median advertised rent $390

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Giving property investors a an average capital gain of -0.43% for the last year, Elermore Vale, 2287 is the 1854th highest performer in Australia in this respect.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Elermore Vale has increased when compared to the 5 year average annual rate.

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.34% offered to property buyers. Sellers in Elermore Vale itself are offering an average vendor discount of -7.73% to real estate investors.

Often selling an investment property can take time, and in Elermore Vale the average time real estate has been on the market is 60.6038 days.

Using the current median advertised rental of $440 and the average annual increase in value of a median property of 5.52%, investors should hope to achieve an overall return of 3.92%

NSW has seen average median house prices change by -3.83% which means that Elermore Vale, 2287 has not done well for property investors by showing a capital gain of -6.53% over the last year

Elermore Vale,2287 has offered an average of -6.53% return per annum in house price rises to property investors over the last three years.

Elermore Vale2287 is located in NSW which offers an average discount of -6.91% to property investors. Elermore Vale itself is showing figures that indicate -6.34% is the average achievable by property buyers investing in the suburb.

Elermore Vale, 2287’s gross rental yield is 5.20%

Information supplied by:


November 2018

M
O

W
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Houses sell quickly

Postcode: 2287

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.

Metrics i HOUSE UNIT
$584,000 $390,000
-2.67% 8.33%
-0.43% -6.53%
5.52% 7.64%
$440 $390
68 27
3.92% 5.20%
60.6037735849057 53.6538461538462

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5186
Median household income ($/weekly) 1212
Median age of persons 39
Median housing loan repayment ($/monthly) 1733
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 686 13.2
    25-34 years 613 11.8
    35-44 years 653 12.6
    45-54 years 708 13.7
    55-64 years 695 13.4
    Others 1831 35.3
    Age Group
    Census Count Percent(%)
    Registered Married 2090 54.5
    Not Married 1476 38.5
    Defacto Relationship 268 7.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 4343 86.9
    Germany 84 1.7
    Indonesia 47 0.9
    United Kingdom 141 2.8
    Other 86 1.7
    Others 297 5.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 0.7
    Christianity 3872 79.5
    Hinduism 48 1.0
    Islam 53 1.1
    No Religion 845 17.3
    Others 23 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 197 11.7
    $600-$799 149 8.8
    $1,000-$1,249 154 9.1
    $1,500-$1,999 206 12.2
    $2,000-$2,499 154 9.1
    Others 824 48.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1468 36.7
    Not in the labour force 1440 36.0
    Employed, worked part-time 815 20.4
    Employed, away from work 142 3.6
    Unemployed, looking for work 131 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 536 22.1
    Technicians & trades workers 370 15.3
    Community & personal service workers 243 10.0
    Clerical & administrative workers 382 15.8
    Sales 243 10.0
    Others 647 26.7
    Occupation
    Census Count Percent(%)
    Pre-school 90 7.2
    Infants/Primary 463 37.0
    Secondary 306 24.4
    Technical or Further Educational Institution 120 9.6
    University or other Tertiary Institutions 240 19.2
    Others 33 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3954 82.0
    Semi-detached, row or terrace house, townhouse 778 16.1
    Flat, unit or apartment 85 1.8
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 651 35.9
    Being purchased 642 35.4
    Rented 507 28.0
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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