Investment property in Gilgandra has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.12%
Taking the average capital gain, or increase in median house value, Gilgandra,2827 has racked up an average of -4.12% over the period. This ranks it number 1377th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Gilgandra is offering property investors an average of -4.36. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in NSW
At number 3446 in a list of fastest selling suburbs, Gilgandra is in the bottom 10% of suburbs in Australia with an average of days on market 144.056 for properties listed there.
Advertised rents are around the $250 mark per week – giving a return of 7.98% 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.