Merimbula is in the TOP 20% in NSW when comparing median price capital growth over the last year. Merimbula gave property investors a very good capital gain figure when compared to the rest of the state, with 6.59%.
When looking at the potential capital gains offered to property investors over the last 3 years, Merimbula comes in at number 111th in NSW.
LACK OF BUYER INTEREST may well be the reason that Merimbula is offering property investors an average of -7.19. This rate of discount on properties puts Suburb at number 423th in terms of most discounted suburbs in NSW
On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.
Advertised rents are around the $430 mark per week – giving a return of 3.79% based on the median price in Suburb
Property value increases in Merimbula have tracked higher than the NSW average of -3.18% over the last 12 months.
Over the longer term, Merimbula has seen property prices show investors a 49.28% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Merimbula are currently offering property investors an average price cut of -5.98% below the asking price at the moment.
With the median price for a house in Merimbula being $312000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.00%
Information supplied by:
Not just for holidaymakers
Median unit price: $262,500
Three-year growth: 18.0%
Rental yield: 5.3%
An affordable suburb situated right on Merimbula Lake, Merimbula has been enjoying considerable growth, although the January 2018 quarter saw apartment values slip slightly.
A fixture on NSW’s Sapphire Coast, the suburb is known for its beaches, water sports and wildlife attractions. Merimbula Boardwalk by the lake is a beautiful walking trail. Merimbula is just 2km away from the town centre, facilitating flights from cities like Sydney and Melbourne.
While primarily a destination for holidaymakers, this spot has also been in demand with homebuyers, recording double-digit levels of growth since 2013. Its high average rental return of 5.3% likely also makes it attractive to investors. Units sell at a low discount rate of 4.2% - a good deal for vendors.