At number 2536th in the list of Australian suburbs ordered by increase in median house value over the last year, East Tamworth, 2340 is in the BOTTOM 40% with a property value increase of -4.49% recorded in median house prices.
A 18.22% growth in median value for property investors in East Tamworth,2340 puts this suburb at number 869th in terms of best performing suburbs in NSW
Our latest figures would indicate that property sellers in East Tamworth are currently offering property investors an average price cut of -5.42% below the asking price at the moment.
On average over the past year, suburb has had 8.00 sales per month, which equates to 96 per year.
East Tamworth, 2340’s gross rental yield is 4.40%
Investment property in East Tamworth has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.11%
Over the longer term, East Tamworth has seen property prices show investors a 15.54% return over the last 3 years. This is worse than over the last 12 months
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.83% offered to property buyers. Sellers in East Tamworth itself are offering an average vendor discount of -5.81% to real estate investors.
On average over the past year, suburb has had 2.17 sales per month, which equates to 26 per year.
Advertised rents are around the $270 mark per week – giving a return of 5.73% based on the median price in Suburb
Information supplied by:
Supply falls in historical suburb
Median unit price: $233,500
Stock on market: -1.50%
12-month growth: 13.90%
A few hours east of Port Macquarie, the suburb of East Tamworth is an affordable hub that is near the CBD. In the past 12 months, it has seen considerable growth and tighter vacancies due to falling unit stock.
The number of apartments in the market dropped from 17 in April 2016 to just five the following year while house supply increased, according to Real Estate Investar. This reduction in stock on market is partly responsible for driving growth of nearly 14% within the unit market.
Even with the price hike, the median price is well below $250,000, making it quite a bargain. The presence of Tamworth Public School makes East Tamworth a good option for families, especially with the Tamworth CBD being just 5 minutes away.