LJHookerQuarterlyMarketReport

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What’s happening in our local property market Strongest growth Most traded Fastest sellers Gosford 44.9% Ourimbah 19.4% Wyoming 179 sales Gosford 179 sales Gosford 7 days Ourimbah 9 days At LJ Hooker Gosford | East Gosford | Lisarow our goal is to provide you with the information you need to make conident decisions about property - whether you are buying, selling, investing or renting. We have created this report which details local market conditions and how property is performing in your area which at times can be very different to the combined performance of the capital cities. Let us help you stay on top of changes in your local property market every month. Across our local market, we have seen 1,193 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 1,382 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Gosford which has seen its median sales price grow by 44.9%. The median sales price of a home in Gosford is now $923,500. Ourimbah saw its median house sales price grow by 26.6% with the median price now sitting at $690,000 and Point Frederick grew 22.3% across 12 individual sales with a median of $1,250,000. The most traded suburb for houses in our area has been Wyoming with 179 homes sold over the past 12 months while Gosford had the most unit sales with 179 transactions. House prices in Wyoming have performed strongly with growth of 11.5% and now have a median price of $546,500. Over the past month, about $428,000 in units and $7,337,000 in houses has been sold in Wyoming with $6,658,000 and $96.63m respectively sold over the past 12 months. Ourimbah has demonstrated the strongest price growth for units with prices rising 19.4% over the past 12 months. The median sales price for units in Ourimbah is now $424,000 and with a median rent of $355 a week, they offer a rental yield of 4.9%. The highest median housing rents in our area are $640 per week in Point Frederick and for units $420 per week in East Gosford. Housing rental yields in Wyoming are currently 4.4% demonstrating why the area is popular with investors. The time it takes to sell a house in our region ranges from 7 days in Gosford to 31 days in Ourimbah, and the shortest median time to sell a unit is 9 days in Ourimbah. Top performing local suburbs Gosford 17 $923,500 44.9% 21.3% Ourimbah 51 $690,000 26.6% 7.3% Houses Point Frederick 12 $1,250,000 22.3% 6.4% Ourimbah 21 $424,000 19.4% 5.9% East Gosford 95 $605,000 12.5% 5.8% Units North Gosford 45 $450,000 12.2% 5.3% Number sold (12 months) Median Price Median Growth 12 months Annual Change over 10 years Gosford | East Gosford | Lisarow
This month it’s all about Wyoming d One of the most popular suburbs in our region is Wyoming where 177 houses were listed for sale over the past year. Houses in Wyoming have an average land size of 682 square metres. d The suburb also has a small apartment market with 18 units listed for sale over the past year. d The suburb is tightly held with residents typically holding their house for 9 years. d The median value of houses in Wyoming is $569,067. This is higher than the median sales price which is currently $546,500. d Over the past 12 months, buyer interest has eased with 179 houses sold this year compared to 187 sales last year. d Houses are typically selling within 14 days. d Sales prices have grown by 11.5% over the past 12 months and vendors are typically discounting by -4.9% to secure a sale. d All of this means it is now a good time to buy in Wyoming. Over 12-month period (1 May 2016 to 30 Apr 2017) Suburb snapshot Houses Units Number Sold Median Sale Price Annual Change in Median Price Median Asking Rent Indicative Gross Rental Yield Total Listings Median Days on Market Total Value of Sales 179 $546,500 11.5% $440 4.4% 177 14 $96.63m 18 $426,500 9.4% $390 4.5% 18 10 $6,658,000 Our local area expertise – investing For housing investors, the best buying in our area can be found in Wyoming where houses are returning a 4.4% yield, while units in Niagara Park are returning a 5.1% yield - making it a good place for savvy investors to look for inlation-beating returns. The median price of a house in Wyoming currently is $546,500 and average rents are $440 per week whereas median unit prices are $410,000 in Niagara Park with rents of $420 per week. This means it could be possible to purchase a cash-positive investment unit. Narara is the second best yielding unit suburb in our area with units that cost around the median price of $433,500 returning 5.1% with median asking rents of $385 per week, while Lisarow also is worth watching with returns of 5.1% based on a median price of $440,000 and rents of $410 per week. For those interested in investing in houses, also consider Ourimbah where prices have moved strongly by 26.6% while yields are 4.3% - which could be a cash low positive investment. Highest yielding suburbs in our area Yields over 12 months (1 May 2016 to 30 Apr 2017) Houses Units Suburb Wyoming Ourimbah Narara Niagara Park Narara Lisarow Number Sold 179 51 138 4 31 10 Median Sale Price $546,500 $690,000 $565,000 $410,000 $433,500 $440,000 Change in Median Price 11.5% 26.6% 6% NA 5.2% 3.5% Median Asking Rent $440 $430 $460 $420 $385 $410 Indicative Gross Rental Yield 4.4% 4.3% 4.3% 5.1% 5.1% 5.1% Gosford | East Gosford | Lisarow
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