Islington is in the bottom 20% in NSW when comparing median price capital growth over the last year. Islington gave property investors a dismal capital gain figure when compared to the rest of the state, with -6.69%.
Comparing Islington,2296 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Islington is offering property investors an average of -6.70. This rate of discount on properties puts Suburb at number 72th in terms of most discounted suburbs in NSW
A $450 per week rent on the median house gives suburb investors a gross yield of circa 3.95%, without taking into account capital value appreciation, which has been averaging out at 8.25%.
NSW has seen average median house prices change by -0.92% which means that Islington, 2296 has not done well for property investors by showing a capital gain of -0.08% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Islington comes in at number 38th in NSW.
In the last year 20 properties changed hands in Islington, which puts it as the 409th most active market in NSW when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
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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.