Property investors who have had real estate in Wellington, 2820 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 33.56%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Wellington has increased when compared to the 5 year average annual rate.
Wellington, 2820 is offering NSW ‘s 64th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.
Often selling an investment property can take time, and in Wellington the average time real estate has been on the market is 114.141 days.
Using the current median advertised rental of $340 and the average annual increase in value of a median property of 6.00%, investors should hope to achieve an overall return of 9.07%
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Information supplied by:
April 2019
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House values slip over the past year
Postcode: 2820
Median house price: $152,500
Three-year growth: 13.0%
Rental yield: 8.5%
The perfect place for adventurers to be, the suburb of Wellington attracts those who love caves, mountain biking, bushwalking and watersports.
The world-renowned Wellington Caves, where explorer discovered megafauna fossils back in 1830, are open to visitors. The limestone caves contain a wealth of crystal formations (Cathedral Cave) and coral formations (Gaden Cave). The very same mine where the fossils were found can be viewed as well.
For those who’d rather be out in the sun, Lake Burrendong is the perfect site for fishing – it is home to redfin and golden perch, among others. Cyclists find excellent terrain in Mount Arthur Reserve.
After a strong positive run from 2014-2017, the house market in Wellington stumbled in the January 2018-2019 period, with values dropping by 7.6% to a median of $152,500. Rental yields are very high at 8.5%.