NSW has seen average median house prices change by 0.15% which means that Ocean Shores, 2483 has done well for property investors by showing a capital gain of 4.17% over the last year
Ocean Shores,2483 was ranked 1588 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -6.86% to buyers in Ocean Shores at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Ocean Shores the average time real estate has been on the market is 111.615 days.
The NSW suburb of Ocean Shores, 2483 is in the Byron (A) local government area.
Ocean Shores has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of -1.91% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Ocean Shores has increased when compared to the 5 year average annual rate.
Vendor discounting in Ocean Shores is giving property investors an average Vendor Discount of around -3.76%. This puts suburb at number 324th in NSW when ranking the most discounted suburbs.
Situated 634.77km from the CBD, Ocean Shores is one of Byron (A) localities in the postcode 2483.
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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%.