If you compare the increase in value of investment property in Mudgee, 2850 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 4.99%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mudgee has increased when compared to the 5 year average annual rate.
At number 879th of NSW’s most discounted properties, Mudgee is in the TOP 10% of the state/territory when listing in order of most discounted to least.
In the last year 346 properties changed hands in Mudgee, which puts it as the 7th most active market in NSW when comparing the number of sales per suburb.
Mudgee, 2850’s gross rental yield is 5.07%
At number 214th in the list of Australian suburbs ordered by increase in median house value over the last year, Mudgee, 2850 is in the top 20% with a property value increase of 8.85% recorded in median house prices.
Mudgee,2850 has offered an average of 8.85% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Mudgee should be aiming for at least -1.78% off the asking price, which is the average vendor discount being achieved at the moment.
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Information supplied by:
December 2018
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Tourist spot brings in tenants
Postcode: 2850
Median house price: $395,000
Vacancy rate: 1.1%
Three-year growth: 7.0%
Right on the banks of the Cudgegong River in NSW’s Central West region, the suburb of Mudgee is a major tourist hub attracting those who love food and adventure. Recently, tenants have found themselves gravitating towards this regional pocket, as the vacancy rate fell from 2.4% to just 1.1% in the 12 months to September 2018. This shows that demand is rising in this area.
Mudgee offers exciting activities like skydiving and hot-air ballooning. Nature lovers are also in close proximity to World Heritage-listed Wollemi National Park and to the Mudgee Observatory, where they have incredible views of the sky. Those interested in Australian history can explored the colonial architecture in town.
Food and wine are massive in Mudgee – acclaimed restaurants make their homes here, along with several wineries and the Mudgee Brewing Company.