Giving property investors a a stable capital gain of 17.73% for the last year, Narara, 2250 is the 1873th highest performer in Australia in this respect.
Across a shorter period, Narara, 2250 has seen a median price increase of 2.30% over the last quarter.
Property investors looking for a bargain in Narara should be aiming for at least -4.83% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 141 properties changed hands in Narara, which puts it as the 205th most active market in NSW when comparing the number of sales per suburb.
Property investors should expect to get $525 weekly from the median priced house in this suburb.
Narara is in the TOP 30% in NSW when comparing median price capital growth over the last year. Narara gave property investors a good capital gain figure when compared to the rest of the state, with 13.59%.
The five-year average increase in median property values for Narara,2250 has given property investors a potential capital gain of 25.88% across each of those five years.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -1.85% offered to property buyers. Sellers in Narara itself are offering an average vendor discount of 0.00% to real estate investors.
Advertised rents are around the $415 mark per week – giving a return of 4.03% based on the median price in Suburb
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Renovation potential abounds
Median house price: $635,000
Three-year growth: 37.4%
Rental yield: 3.8%
Located around 4km north of Gosford’s CBD on the Central Coast, the suburb of Narara is a primarily residential suburb, serviced by the Narara Railway Station.
A popular suburb with families, both renters and homeowners alike, Narara boasts its own corner shop and bottleshop, along with a number of parks, sporting grounds, a public skatepark and two schools. It is also home to the Narara Ecovillage, a sustainable community that aims to become a stylish, intergenerational collective that blends the principles of ecological and social sustainability.
A solid brick home on a decent size block of around 600-650m2 is the ideal choice in this neighbourhood, as it suits a wide range of potential tenants. There are plenty of properties in the area that could be improved through a strategic renovation, giving landlords the opportunity to build immediate equity into their investment.