If you compare the increase in value of investment property in West Nowra, 2541 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -8.86%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Nowra has increased when compared to the 5 year average annual rate.
West Nowra, 2541 is offering NSW ‘s 775th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this NSW.
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Houses stumble in Nowra neighbour
Median house price: $445,000
Three-year growth: 41.5%
Rental yield: 4.3%
Situated west of the bustling town of Nowra, the suburb of West Nowra has generally been a significant grower in the NSW house market. However, CoreLogic’s findings from the November 2017 quarter indicated a 1.7% decrease in prices that brought the median house value down to under $450,000.
This makes West Nowra houses quite affordable, which, coupled with the reasonable yield of 4.3%, could be a draw for investors. Demand is still strong, with vendors selling at an average discount of just 3.7%. Houses spend an average of just 54 days on the market.
West Nowra residents are in close proximity to the amenities of Nowra. In addition to being a major tourist destination for Sydneysiders and Canberrans, Nowra is also popular with retirees, which makes West Nowra a prospective spot for older people looking to live near the water.