At number 4006th in the list of Australian suburbs ordered by increase in median house value over the last year, Moree, 2400 is in the BOTTOM 10% with a property value increase of -23.94% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Moree has fallen somewhat when compared to the 5 year average annual rate.
At number 14th of NSW’s most discounted properties, Moree is in the bottom 10% of the state/territory when listing in order of most discounted to least.
At number 3441 in a list of fastest selling suburbs, Moree is in the bottom 10% of suburbs in Australia with an average of days on market 131.72 for properties listed there.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 0.52%, investors should hope to achieve an overall return of 8.73%
Information supplied by:
Housing rental is strong
Median house price: $220,000
Three-year growth: -2.9%
Rental yield: 6.9%
Moree is a huge agricultural hub, largely due to the fact that it holds a big presence in the Australian cotton-growing industry. It’s found right on the banks of the Mehi River.
Around 40.7% of dwellings are occupied by renters, giving you a great chance to get in there with a rental investment property. Moree is considered a steady place to invest, with investment returns slowly increasing according to property reports.
Moree contains a number of heritage-listed sites, as well as a railway station and airport. It also has a lot of facilities for locals as well as tourist attractions, one of the most popular being the artisan hot spring baths which are said to provide a lot of health benefits.