Gilgandra is in the bottom 10% in NSW when comparing median price capital growth over the last year. Gilgandra gave property investors a dismal capital gain figure when compared to the rest of the state, with -11.64%.
When looking at the potential capital gains offered to property investors over the last 3 years, Gilgandra comes in at number 1277th in NSW.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.70% offered to property buyers. Sellers in Gilgandra itself are offering an average vendor discount of -10.07% to real estate investors.
Advertised rents are around the $260 mark per week – giving a return of 9.62% based on the median price in Suburb
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Incredible returns in rural suburb
Median house price: $152,750
Three-year growth: -15.1%
Rental yield: 8.2%
Tucked into the Great Western Plains region, Gilgandra is a rural suburb steeped in history – especially the history of iconic “coo-ee” bush call.
Rental returns are off the charts in this suburb at an average of 8.2%. Following a slow period over recent years, house prices rose by 4.3% in the 12 months to January 2019 to bring the median to past the $150,000 mark.
The Coo-ee Heritage Centre is located here, and there are also galleries and museums to visit. There is even an emu farm for animal lovers and families with children. Gilgandra once housed over 300 windmills, earning it the moniker “Town of Windmills.” Today, the windmills can still be spotted along Windmill Walk, which winds along the banks of the Castlereagh River.
Gilgandra sits at the midway point between Brisbane and Melbourne, and is less than an hour away from the Warrumbungle Mountains.