Investment property in Hay has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -21.21%
When looking at the potential capital gains offered to property investors over the last 3 years, Hay comes in at number 718th in NSW.
Vendor discounting in Hay is giving property investors an average Vendor Discount of around -12.83%. This puts suburb at number 13th in NSW when ranking the most discounted suburbs.
Residents and property investors in Hay have been waiting around 144.182 days to sell a property.
With the median price for a house in Hay being $130000 and the advertised rent reaching $200 the gross rental yield for property investors calculates out to be 8.00%
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Houses come at great value
Median house price: $129,000
Three-year growth: -7.5%
Rental yield: 8.9%
A small suburb with a historic country appeal, Hay has one of the top wool industries in Australia.
The suburb is home to the Australian Shearers Hall of Fame, which highlights the history of sheep shearing in the country and present live demonstrations. Local artists make beautiful pieces out of the wool produced. Residents can enjoy beautiful sunsets on the outback daily in one of the many lovely parks or along the cycling paths. The local railway station is a heritage-listed site, as are many other sites in the suburb including the Light Horse Memorial and the Hay War Memorial High School Museum.
At a median value of just $129,000, Hay has a remarkably affordable housing market.