Waratah is in the bottom 20% in NSW when comparing median price capital growth over the last year. Waratah gave property investors a dismal capital gain figure when compared to the rest of the state, with -7.46%.
Over the longer term, Waratah has seen property prices show investors a -1.95% return over the last 3 years. This is worse than over the last 12 months
Waratah, 2298 is offering NSW ‘s 326th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NSW.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 4.24%, without taking into account capital value appreciation, which has been averaging out at 5.21%.
If you compare the increase in value of investment property in Waratah, 2298 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -9.64%.
Taking the average capital gain, or increase in median house value, Waratah,2298 has racked up an average of -9.64% over the period. This ranks it number 564th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Waratah are currently offering property investors an average price cut of -5.43% below the asking price at the moment.
The NSW suburb of Waratah, 2298 is in the Newcastle (C) local government area.
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Houses off the market quickly
Median house price: $572,500
Three-year growth: 25.1%
Rental yield: 3.9%
First established in the 1820s, Waratah was a coal mining and brickmaking suburb located in 6km northwest of Newcastle. It has since become a bustling residential area.
The suburb reports a median house price of over $550,000, but this figure looks like it could drop over the next few months. In the February 2019 quarter, values slipped by 5.2%. Even then, houses are still being snapped in an average of 37 days.
Waratah’s train station was originally opened in the 1850s, and is a stop on the Hunter line of the NSW Trainlink at present. The suburb also contains several schools, such as the Technology Campus of Callaghan College Waratah and St Philip’s Christian College. There are also a couple of hospitals and a nursing home. The Waratah Oval and local park are great recreational spots for families with kids.