At number 2957th in the list of Australian suburbs ordered by increase in median house value over the last year, Lennox Head, 2478 is in the BOTTOM 30% with a property value increase of -3.83% recorded in median house prices.
Comparing Lennox Head,2478 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lennox Head, 2478. Typically our figures indicate that -7.88% is being offered, which puts this NSW suburb at 675th most discounted overall in Australia.
Using the current median advertised rental of $650 and the average annual increase in value of a median property of 4.92%, investors should hope to achieve an overall return of 3.59%
Property value increases in Lennox Head have tracked close to the NSW average of -0.92% over the last 12 months.
The five-year average increase in median property values for Lennox Head,2478 has given property investors a potential capital gain of 36.97% across each of those five years.
Property investors looking for a bargain in Lennox Head should be aiming for at least -4.64% off the asking price, which is the average vendor discount being achieved at the moment.
Advertised rents are around the $590 mark per week – giving a return of 4.25% based on the median price in Suburb
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Vendors sell easily in surfers paradise
Median unit price: $620,000
Three-year growth: 16.98%
Rental yield: 4.28%
Although it is a suburb of NSW, the seaside surfers’ hub of Lennox Head is actually closer to the Gold Coast. Thus, it may be getting attention from both NSW and Queensland buyers.
The suburb’s unit market reported nearly 20% growth in the past year, and the positive growth trend has been maintained into the February 2017 quarter. The low average discount rate of 3.24% suggests that sellers are having little trouble unloading apartments here.
Lennox Head is quite popular as a holiday destination for beachgoers; hence, it has the amenities to meet the needs of both visitors and residents. There is a recreational spot beside nearby Lake Ainsworth that provides barbecue facilities, and the lake itself is ideal for kayaking. The famous Lennox Point is located at the southern end of Seven Mile Beach. There is also a small primary school catering to families with kids.