Mount Druitt, 2770 ranked 544th in NSW when comparing growth in median property values or capital gain over the last 12 months. Mount Druitt is one of 3163 in our list for NSW
Mount Druitt,2770 has offered an average of 0.46% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -4.03% to buyers in Mount Druitt at the moment, which is less than average for the rest of NSW.
Advertised rents are around the $400 mark per week – giving a return of 3.19% based on the median price in Suburb
Mount Druitt is in the bottom 40% in NSW when comparing median price capital growth over the last year. Mount Druitt gave property investors a disappointing capital gain figure when compared to the rest of the state, with -5.42%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mount Druitt has increased when compared to the 5 year average annual rate.
The most recent median price for Mount Druitt is $392500, with sellers offering an average of -8.07% off the asking price.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.64%, without taking into account capital value appreciation, which has been averaging out at 6.05%.
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Affordable suburb sustains demand
Median unit price: $425,000
Three-year growth: 34.9%
Rental yield: 4.3%
Named for original landowner Major George Druitt, the suburb of Mount Druitt has been undergoing redevelopment to maximise its excellent amenities, including a hospital, shopping centre, train station and schools.
Given its distance from the Sydney CBD, the suburb is quite affordable, with the median unit price coming in at $425,000. Even with the low prices, Mount Druitt has recorded steady growth over the past five years, with an average annual growth rate of 7%. Rental returns are reasonable at an average of 4.3%, which could be attractive for investors looking for a cheaper investment in NSW.
Sellers benefit from the strong conditions in this suburb – apartments spend an average of just 44 days on the market before being sold. They sell at good prices as well – the average discount rate is just 4%.