Property investors who have had real estate in Balgownie, 2519 should be unhappy 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 -11.30%
A 39.23% growth in median value for property investors in Balgownie,2519 puts this suburb at number 226th in terms of best performing suburbs in NSW
Balgownie, 2519 is offering NSW ‘s 150th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
At number 1954 in a list of fastest selling suburbs, Balgownie is just in the bottom half of suburbs in Australia with an average of days on market 78.2353 for properties listed there.
Balgownie, 2519’s gross rental yield is 3.40%
Investment property in Balgownie has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.12%
Over the longer term, Balgownie has seen property prices show investors a 21.43% return over the last 3 years. This is worse than over the last 12 months
Balgownie2519 is located in NSW which offers an average discount of -6.91% to property investors. Balgownie itself is showing figures that indicate -5.91% is the average achievable by property buyers investing in the suburb.
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Transformation of Wollongong suburb heralds growth
Median house price: $802,500
Three-year growth: 40.79%
Rental yield: 3.18%
Roughly 10 minutes from Wollongong, the suburb of Balgownie has undergone considerable development in recent years, making it one of the top growing suburbs in New South Wales.
Over the December 2016 quarter, Balgownie recorded a remarkably significant price increase of 12.5%, continuing a trend observed for the past five years. Even with this hike, vendors are able to sell houses at a low discount rate of just 4.7%.
One factor could be Balgownie’s proximity to the CBD. It is also bordered by Fairy Meadow, a light industrial and commercial area. Thus, Balgownie is highly convenient for professionals and provides easy access to amenities, since bus services can take commuters into town. The suburb offers homes for residents in various socioeconomic conditions, with public housing in the eastern side, townhouses, villas and mansions. There are also fine dining establishments, cafes and pubs in Ba