Property value increases in Ballina have tracked just higher than the NSW average of -4.28% over the last 12 months.
Over the longer term, Ballina has seen property prices show investors a 21.67% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -6.08% to buyers in Ballina at the moment, which is less than average for the rest of NSW.
Renters in Suburb are facing rents around $27040 per annum or $520 every week.
Over the last year, property investments in Ballina, 2478 have given investors a capital gain of 20.24%. This compares very favourably with the -3.83% for NSW as a whole.
Ballina,2478 has offered an average of 20.24% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Ballina is giving property investors an average Vendor Discount of around -4.96%. This puts suburb at number 303th in NSW when ranking the most discounted suburbs.
Residents and property investors in Ballina have been waiting around 76.8367 days to sell a property.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 6.28%, investors should hope to achieve an overall return of 3.91%
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Situated 80km from the NSW/Queensland border, Ballina has good transport connections by road, rail and air: a particular draw for sea changers is the presence of the Ballina-Byron Gateway airport just outside the town, which carries commercial flights to Melbourne and Sydney. A new bypass is also being constructed to take heavy traffic away from the town: this is expected to be fully completed by mid-2012.
It has all the amenities you’d expect in a coastal town – including its own hospital, several schools, a combination of supermarkets and independent grocery stores, and one of Australia’s iconic ‘giant things’ – in this case, a giant prawn. As a popular holiday town, there are also a wide range of leisure activities from kayaking and fishing to ten pin bowling and golf – as well as numerous restaurants and cafes.
The town is a popular location for sea changers and retirees, and experiencing healthy population growth: SQM Research projects growth of 2% pa for the next few years. It’s possible that this could increase, too, as baby boomers retire and head to the coast in greater numbers. The area does suffer from coastal erosion, so while a beachfront property may seem desirable, it may be better to opt for properties a street or two back from the coast
Properties are relatively expensive for a north coast NSW town, albeit nowhere near as expensive as local leader Byron Bay.