Investment or lifestyle - Young real estate returns good value
Capital growth in Young over the past 10 years has seen the median house price rise from $127,500 in 2003 to $205,000 in 2012
Sale By Price in Young and District
Over the past 12 months there have been 21 sales under $100k, 72 sales $100-$200k, 92 sales $200-$300k, 28 sales $300-$400k, 10 sales $400-$500k, 3 sales $500-$600K , 6 sales $600-$750k, one sale $750k-$1m, one sale $1.25m-$1.5m and one sale $2m plus. From these figures sales under $100k are mainly vacant blocks of residential land sales. The largest percentage of sales fall into the $100 to $300k brackets, most of these are residential with some small rural holdings. Once you get into the $400 to $600k and $600-$750k price range the sales are coming from a mixture of high quality residential and quality small rural holdings. Sales in the range $1m to $2m plus are from mostly rural holdings of 500 plus acres and above.
Residential and Small Rural Properties
In the current market you should be able buy an older un-renovated weatherboard or fibro home between $150k and $200k. The bracket $200k to $300k makes up the largest percentage of sales of residential homes and it also represents the starting point for small rural holding (5 to 10 acres with house). From $300k to $400k you will find better quality homes and small rural properties (5 to 10 acres with house). Top quality residential homes and quality small rural holdings will generally be available in the $400k to $600k price range whilst top quality small rural holdings will be in the $600 to $800 price bracket.
Rentals Return Averages
Homes selling in the $150k to $200k range should rent between $180 to $250 per week. Homes selling in the $200k to $300k range should rent between $250 and $300 per week. Homes selling in the $300k to $400k range should rent for $300 to $400 per week.
Home Loan Repayments - Monthly
If you’re paying a house off in Young and district the largest percentage of people paying a home loan are falling into the $950 - $1199 per month payment, second is $750 - $949 per month payment and third is $550 - $749 per month payment.
Home Ownership in Young and District
In Young Shire 1,816 properties are fully owned, 1,275 properties being purchased and 1,166 rented (shared or other).
Residential Rent Payments in Young and District - Weekly
71.6 percent of tenants pay between $140 to $349 per week.
Commercial Rent Payments - Weekly
The average rental for Commercial starts from $250 per week to an average top of $550 per week (depending on size and location).
Come and see for yourself how your decision to invest in Young and district could pay dividends for you