Property investors who have had real estate in Hay, 2711 should be unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -18.03%
Across a shorter period, Hay, 2711 has seen a median price increase of -3.85% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Hay, 2711. Typically our figures indicate that -8.64% is being offered, which puts this NSW suburb at 131th most discounted overall in Australia.
A $220 per week rent on the median house gives suburb investors a gross yield of circa 9.15%, without taking into account capital value appreciation, which has been averaging out at 2.22%.
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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.