With a capital gain of 9.68% for the last 12 months, Lennox Head, 2478 has performed for property investments than its average annual 5.31% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Lennox Head comes in at number 1021th in NSW.
The most recent median price for Lennox Head is $850000, with sellers offering an average of -8.42% off the asking price.
Often selling an investment property can take time, and in Lennox Head the average time real estate has been on the market is 118.9 days.
Over the last year, property investments in Lennox Head, 2478 have given investors a capital gain of 7.05%. This compares averagely with the 8.39% for NSW as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Lennox Head has increased when compared to the 5 year average annual rate.
Vendor discounting in Lennox Head is giving property investors an average Vendor Discount of around -3.51%. This puts suburb at number 185th in NSW when ranking the most discounted suburbs.
On average over the past year, suburb has had 6.67 sales per month, which equates to 80 per year.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 4.35%, investors should hope to achieve an overall return of 3.98%
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.Full summary
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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.