Suburb Profile Report for Elermore Vale NSW (2287)

Elermore Vale House: Median price $546,000, Annual capital growth 4.30%, Number of sales 81, Weekly median advertised rent $450

Elermore Vale Unit: Median price $453,500, Annual capital growth 5.85%, Number of sales 56, Weekly median advertised rent $430

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

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:


November 2018

M
O

W
E

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
$546,000 $453,500
2.06% -0.33%
-9.00% 6.71%
4.30% 5.85%
$450 $430
81 56
4.29% 4.93%
45.7540983606557 84.448275862069

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. 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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