Welby is in the TOP 30% in NSW when comparing median price capital growth over the last year. Welby gave property investors a good capital gain figure when compared to the rest of the state, with 14.90%.
Property investors looking for a bargain in Welby should be aiming for at least -4.88% off the asking price, which is the average vendor discount being achieved at the moment.
A $490 per week rent on the median house gives suburb investors a gross yield of circa 4.03%, without taking into account capital value appreciation, which has been averaging out at 16.06%.
Formerly known as Fitzroy, the suburb of Welby in New South Wales has recorded a strong performance over the past 12 months.Full summary
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A smart location with rising house values
Median house price: $582,500
Three-year growth: 45.63%
Rental yield: 4.02%
Formerly known as Fitzroy, the suburb of Welby in New South Wales has recorded a strong performance over the past 12 months.
House prices have soared by nearly 33% in this period, bringing the median price to over $582,000. Even with the high values, houses sell like hotcakes – they spend just over 30 days on the market on average, and are bought at an average discount of under 5%. Many investors are likely keen on this suburb due to its reasonable average yield of 4%.
This small suburb is located next to the larger town of Mittagong, which is a well-known tourist spot given its proximity to Mount Gibraltar and Lake Alexandra. Thus, Welby residents have easy access to shops and public transport like trains, buses and coaches.Close