Property value increases in Islington have tracked close to the NSW average of -4.21% over the last 12 months.
Taking the average capital gain, or increase in median house value, Islington,2296 has racked up an average of -5.97% over the period. This ranks it number 704th in the whole country for real estate investors looking at median house price increases.
Islington, 2296 is offering NSW ‘s 228th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this NSW.
At number 2043 in a list of fastest selling suburbs, Islington is just in the bottom half of suburbs in Australia with an average of days on market 81.6818 for properties listed there.
With the median price for a house in Islington being $630000 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 3.71%
NSW has seen average median house prices change by -4.02% which means that Islington, 2296 has not done well for property investors by showing a capital gain of -6.35% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Islington has increased when compared to the 5 year average annual rate.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 9.94%, investors should hope to achieve an overall return of 3.97%
Information supplied by:
Historic suburb sustains highs
Median unit price: $615,000
Three-year growth: 32.3%
Rental yield: 3.4%
Just 3km west of Newcastle, the suburb of Islington is known as the city’s restaurant precinct. In addition to dining, it is lined with shops and is also regarded as an antique district since it was established in the 1870s.
Its popularity with unit buyers is evidenced by its steady trend of positive growth over the past five years. Such properties also sell very quickly, with an average time on market of just 20 days. This can be attributed to its close proximity to Newcastle, its accessibility and its many amenities.
Islington is connected to the Pacific Highway, and buses run through the suburb via Maitland Road. The Hamilton railway station is situated at the southern end of the suburb, facilitating commutes to the Central Coast and Sydney.