Over the last year, property investments in Corlette, 2315 have given investors a capital gain of 1.25%. This compares favourably with the -4.21% for NSW as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Corlette comes in at number 467th in NSW.
LACK OF BUYER INTEREST may well be the reason that Corlette is offering property investors an average of -7.38. This rate of discount on properties puts Suburb at number 712th in terms of most discounted suburbs in NSW
A $497.5 per week rent on the median house gives suburb investors a gross yield of circa 3.65%, without taking into account capital value appreciation, which has been averaging out at 5.19%.
At number 612th in the list of Australian suburbs ordered by increase in median house value over the last year, Corlette, 2315 is in the top half with a property value increase of -0.10% recorded in median house prices.
Across a shorter period, Corlette, 2315 has seen a median price increase of 0.00% over the last quarter.
Advertised rents are around the $415 mark per week – giving a return of 4.21% based on the median price in Suburb
Information supplied by:
Vacancies are low
Median unit price: $528,500
Vacancy rate: 4.2%
Three-year growth: 33.8%
Part of the Port Stephens LGA in NSW’s Hunter region, the suburb of Corlette is looking very tight for renters. The average vacancy rate fell from 7.4% to 4.2% in the 12 months to June 2018, with rents at an average of $410 per week. The average yield comes in at a reasonable 4%.
Corlette is certainly looking to be popular with residents, as the suburb has recorded strong growth since 2013. In the June 2017-2018 period alone, the unit market saw prices soar by almost 20% to hit a median of $528,500.
Corlette is surrounded by water – it is bordered by Salamander Bay and Nelson Bay. The houses on the shores of Salamander Bay are said to command the highest prices. Port Stephens lies to the north of Corlette, and is home to a marine park.