If you compare the increase in value of investment property in Balgownie, 2519 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 3.43%.
When looking at the potential capital gains offered to property investors over the last 3 years, Balgownie comes in at number 1084th in NSW.
Balgownie2519 is located in NSW which offers an average discount of -6.70% to property investors. Balgownie itself is showing figures that indicate -8.58% is the average achievable by property buyers investing in the suburb.
At number 975 in a list of fastest selling suburbs, Balgownie is in the TOP 30% of suburbs in Australia with an average of days on market 62.5278 for properties listed there.
Balgownie, 2519’s gross rental yield is 3.20%
Property value increases in Balgownie have tracked just lower than the NSW average of -0.92% over the last 12 months.
Balgownie,2519 has offered an average of -5.12% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Balgownie is giving property investors an average Vendor Discount of around -6.48%. This puts suburb at number 122th in NSW when ranking the most discounted suburbs.
Balgownie, 2519’s gross rental yield is 3.70%
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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