Suburb Profile Report for Gilgandra NSW (2827)

Gilgandra House: Median price $163,000, Annual capital growth 2.42%, Number of sales 40, Weekly median advertised rent $250

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2020 as supplied by CoreLogic. Data is reported to the period ending Aug 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report

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

Information supplied by:


April 2019

M
O

W
E

Incredible returns in rural suburb

Postcode: 2827

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.

Metrics i HOUSE UNIT
$163,000 N/A
-4.96% N/A
-4.12% N/A
2.42% N/A
$250 N/A
40 N/A
7.98% N/A
144.055555555556 N/A

Source: Monthly data update for Nov 2020 as supplied by CoreLogic. Data is reported to the period ending Aug 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Below average (U)
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Demographics
Total population 3144
Median household income ($/weekly) 727
Median age of persons 43
Median housing loan repayment ($/monthly) 964
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 432 13.7
    35-44 years 352 11.2
    45-54 years 454 14.4
    55-64 years 378 12.0
    65-74 years 365 11.6
    Others 1162 37.0
    Age Group
    Census Count Percent(%)
    Registered Married 1044 48.7
    Not Married 901 42.0
    Defacto Relationship 199 9.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2815 95.7
    Papua New Guinea 18 0.6
    United Kingdom 29 1.0
    United States of America 10 0.3
    Other 13 0.4
    Others 57 1.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 11 0.4
    Christianity 2555 87.8
    Islam 6 0.2
    Other Religious Groups 6 0.2
    No Religion 323 11.1
    Others 8 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 148 14.4
    $400-$599 176 17.1
    $600-$799 155 15.1
    $800-$999 109 10.6
    $1,500-$1,999 87 8.5
    Others 353 34.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1080 45.6
    Employed, worked full-time 710 30.0
    Employed, worked part-time 411 17.3
    Unemployed, looking for work 100 4.2
    Employed, away from work 69 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 185 15.5
    Professionals 157 13.2
    Technicians & trades workers 177 14.9
    Community & personal service workers 184 15.5
    Labourers 169 14.2
    Others 318 26.7
    Occupation
    Census Count Percent(%)
    Pre-school 52 7.9
    Infants/Primary 258 39.2
    Secondary 218 33.1
    Technical or Further Educational Institution 73 11.1
    University or other Tertiary Institutions 47 7.1
    Others 11 1.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2565 91.0
    Semi-detached, row or terrace house, townhouse 3 0.1
    Flat, unit or apartment 202 7.2
    Caravan, cabin, houseboat 20 0.7
    House or flat attached to a shop, office 26 0.9
    Others 3 0.1
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 488 42.3
    Rented 361 31.3
    Being purchased 296 25.6
    Other tenure type 10 0.9
    Tenure Type
Census 2011, ABS
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