Property investors who have had real estate in Ocean Shores, 2483 should be ok with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.97%
Comparing Ocean Shores,2483 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 439th of NSW’s most discounted properties, Ocean Shores is in the middle of the state/territory when listing in order of most discounted to least.
Residents and property investors in Ocean Shores have been waiting around 122.703 days to sell a property.
At number 214th in the list of Australian suburbs ordered by increase in median house value over the last year, Ocean Shores, 2483 is in the top 20% with a property value increase of 8.70% recorded in median house prices.
Ocean Shores,2483 has offered an average of 8.70% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Ocean Shores should be aiming for at least -5.71% off the asking price, which is the average vendor discount being achieved at the moment.
Ocean Shores, 2483’s gross rental yield is 3.58%
Information supplied by:
Ocean views invite house buyers
Median house price: $647,500
Three-year growth: 40.76%
Rental yield: 4.26%
As part of the Northern Rivers region, the suburb of Ocean Shores may be far from major NSW CBDs like Newcastle and Sydney, but it is still performing strongly in the property market with a whopping 24% growth in the past 12 months leading up to April 2017.
This continues a trend of positivity tracked by CoreLogic over the recent five-year period, which has culminated in a median price of just under $650,000. Nonetheless, houses still sell at close to original price, with the average discount rate at 3.8%. This could be the result of the suburb being a seaside destination less than 30 minutes from Byron Bay.
Investor demand is likely to spur further growth, with the average rental yield coming in at over 4%.