If you compare the increase in value of investment property in Orange, 2800 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 10.16%.
Taking the average capital gain, or increase in median house value, Orange,2800 has racked up an average of 10.16% over the period. This ranks it number 4777th in the whole country for real estate investors looking at median house price increases.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -2.11% offered to property buyers. Sellers in Orange itself are offering an average vendor discount of -3.41% to real estate investors.
With the median price for a house in Orange being $560000 and the advertised rent reaching $565 the gross rental yield for property investors calculates out to be 5.70%
Orange is in the bottom 10% in NSW when comparing median price capital growth over the last year. Orange gave property investors a dismal capital gain figure when compared to the rest of the state, with -9.09%.
If we look at median property appreciation over just the last three months, Orange has given property investors a paper return of -5.00%. This puts Suburb as 657 on a list of fastest fasting appreciating suburbs in NSW
Orange2800 is located in NSW which offers an average discount of -2.31% to property investors. Orange itself is showing figures that indicate -3.09% is the average achievable by property buyers investing in the suburb.
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Information supplied by:
January 2019
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Property stock stays steady
Postcode: 2800
Median house price: $399,000
Stock on market: -0.3%
12-month growth: 9.3%
Orange isn’t just a colour and a fruit, it’s also a bustling regional town in NSW. Orange is situated in the Central Tablelands region, just 254 kilometres from the state’s capital Sydney. Though Sydney is a hefty 3.5-hour drive, Orange has plenty of amenities and attractions of its own. People that choose to call Orange home have everything they could need within arms reach - except the beach!
Hosting a thriving agricultural scene, with many vineyards and an array of farms, Orange is famed for its cool climate wines and spectacular scenery. The city has its own regional airport and university and is sometimes snowed upon during the colder months.
Adam Savage, Licensed Real Estate Agent at Peter Fisher Real Estate, says Orange has a ‘very diverse economy' which is ‘one of many reasons it’s attractive to live and invest'.
“Real Estate has been consistently strong in Orange for many years and it has always been a safe place to invest,” Mr Savage said.
“Buyers looking to purchase to live in are still very strong particularly local residents, we are also seeing a lot of external buyers looking for a tree change, now that they can work from home, escape the city traffic, and enjoy more lifestyle.”
“Rental returns are also very strong with limited stock on the market to rent.”