Over the last year, property investments in Nyah West, 3595 have given investors a capital gain of -25.22%. This compares very badly with the 5.12% for VIC as a whole.
Across a shorter period, Nyah West, 3595 has seen a median price increase of 1.18% over the last quarter.
With the median price for a house in Nyah West being $86000 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 15.12%
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Growth potential in the housing market
Median house price: $137,000
Three-year growth: -4.0%
Rental yield: 8.7%
Formed with the extension of Swan Hill’s railway line past the suburb of Nyah in 1915, Nyah West is a small suburb that serves as a business and commercial centre focusing on wine, dried fruit, vegetables and wool – industries it shares with Nyah.
Nyah West is showing promise in terms of growth – prices increased by 2.6% in the 12 months to November 2018. This brings the median value of the house market to $137,000 –the remarkable affordability of this suburb is likely to draw interest, along with the incredible 8.7% return investors can get off an average rent of $230 per week.
Nyah West places a lot of value on recreation. A swimming pool is nearby, along with a boat ramp and facilities for sports like tennis, football and cricket. Nyah West itself has a golf course.