Property value increases in Queanbeyan East have tracked close to the NSW average of 1.14% over the last 12 months.
The five-year average increase in median property values for Queanbeyan East,2620 has given property investors a potential capital gain of 21.30% across each of those five years.
Residents and property investors in Queanbeyan East have been waiting around 52.0556 days to sell a property.
With the median price for a house in Queanbeyan East being $605000 and the advertised rent reaching $560 the gross rental yield for property investors calculates out to be 4.81%
Queanbeyan East has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 3.13% to date .
Taking the average capital gain, or increase in median house value, Queanbeyan East,2620 has racked up an average of 3.13% over the period. This ranks it number 203th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -3.60% to buyers in Queanbeyan East at the moment, which is less than average for the rest of NSW.
Advertised rents are around the $300 mark per week – giving a return of 4.73% based on the median price in Suburb
Information supplied by:
Affordable with a good location
Median unit price: $310,000
Three-year growth: 3.4%
Rental yield: 4.7%
One of the newer suburbs in the Queanbeyan area, Queanbeyan East sits on the northeastern bank of the Queanbeyan River. It serves as Queanbeyan’s manufacturing and industrial district.
Many high-density units have been constructed in this suburb to create supply and encourage migration from outside the state, especially with Canberra locals looking to make the shift to Queanbeyan. Queanbeyan East is not lacking in amenities – it is home to a TAFE campus and a public school, as well as a shopping strip. It also has the largest sports ground in the city in Seiffert Oval.
Unit prices went up by nearly 7% in the 12 months to November 2018, putting the median price at just over $300,000. This price tag is certainly a factor in drawing migrants who want to be close to Australia’s capital.