Tamworth Property Factsheet 1st Half 2018
Tamworth and Tamworth Regional Council LGA house market is highly attractive for both affordability and capital growth. This is area is particularly enticing when compared to Sydney’s median house price of $1,150,357 and -1.4% annual change, a cooling when contrasted to capital growth in Tamworth.
The Tamworth property market recorded a median house price of $377,500 and $239,625 for units in Q1 2018, which represents an annual price change of 11.0% and -5.8% respectively. Over the same time, house prices in the Tamworth Regional Council Local Government Area (LGA) grew by 10.8% to $360,000 and unit prices softened by -13.5% to $220,200. This suggests that Tamworth offers a more premium market than the wider LGA. Buyers are urged to capitalise on this rare opportunity now.
Median rent in Tamworth has experienced positive annual growth (Q1 2017 - Q1 2018) of 4.2% for units, currently at $250 per week. Whilst, median rent for houses in Q1 2018 was recorded at $335 per week. Investors are benefiting from rental yields of 4.8% (house) and 4.9% (units), much higher that of Sydney Metro (2.9% and 3.8% respectively). This provides investors with a much more affordable investment option yet with the potential of much greater returns.
set to see approx. $28.5M of new projects commencing in the 1st half
of 2018. The majority of development will be focused on commercial development.
Approx. $14.8M (or 51.8% ) will be dedicated to commercial development, assisting
in the growth of the economy and employment.