Thursday, 27 September 2012

Mudgee leads list of 10 top-performing NSW housing markets with prices up 7.44%: Residex


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Mudgee leads list of 10 top-performing NSW housing markets with prices up 7.44%: Residex

By Larry Schlesinger original link press me 
Tuesday, 25 September 2012
The central western NSW town of Mudgee, a hotspot for mining, agriculture and tourism, has been the top-performing NSW housing market over the past year, according to the latest Residex regional market update.

Mudgee district house prices are up 7.44% for the year to August,
 with a median house price of $272,500
following a gain of less than 1% in the previous 12-month period.

Residex reported a 16% jump in sales in Mudgee over this period,
with 548 properties selling.
The median Mudgee rent is up 30% for the year to $410 per week,
equating to an average yield of around 7.8%.

Mudgee ranked just above the Hunter Valley, where houses appreciated 7.18% over the year to August with a median price of $324,000.

Other strong performers were Riverina houses (4.27%),
Penrith Windsor houses (3.95%) in Sydney’s West,
Bathurst Orange Houses (3.43%) and
South-west Sydney units (3.47%).

The worst-performing markets was upmarket
Neutral Bay/Spit houses (-8.16%  to a median of $2.02 million) followed by
North coast houses (Port Macquarie, Coffs Harbour, Foster),
with prices down 5.53% to a median of $348,000.


Area
Median price
Annual capital growth to August 2012
Median rent
Yield
Mudgee District houses
$272,500
7.44%
$410
7.8%
Hunter Valley houses
$324,000
7.18%
$405
6.5%
Riverina houses
$236,000
4.27%
$270
6%
Penrith Windsor houses
$391,500
3.95%
$420
5.6%
South West units
$411,500
3.47%
$445
5.6%
Bathurst Orange Houses
$280,000
3.43%
$320
6%
South units
$611,000
3.24%
$645
5.5%
Campbelltown houses
$363,000
3.13%
$420
6%
Newcastle houses
$403,500
3.08%
$415
5.4%
North West units
$444,000
2.89%
$475
5.7%
 The historic country town of Mudgee lies 270 kilometres north-west of Sydney in the fertile Cudgegong River valley and benefits from both agriculture, tourism and nearby mining activity.

original link press me 

MY RESEARCH

Also look at this site http://www.whereis.com/nsw/mudgee#session=MTE= these will show you trades people in town call them before you go to the property and get a quote on reno.
Also a simple map will show you the town and especially the railway track.
Print this out then ring agent and say , I am thinking of buying a house in town (not investing) , what is
the best streets , ask about prices of properties and what gets the worse sale and then what gets the best sale. Ask about which side of the train track gets better returns.
Ask them for the last 5 houses they have sold and what did they get . Then start looking at reno properties.
Know before you buy

THE MARKET
I have found that when you look in a country town look at the price of houses close to the post office or central CBD. See what prices and rents demand , rather then looking at Acreage Property.

The listing below is a true indication and should give you a guide to the limit of the market and not
what you want to buy but what you need to change an old house into to get this result.
Find a shack and do it up and you should be able to sell for close to the figure below.



MUDGEE

Property Summary

Bedrooms:
2
Bathrooms:
1
Carspaces:
2
Price:
$299,000
Property Type:
House
Suburb:
MUDGEE (profile)
Region:
Regional NSW
Land Area:
506 sqm

Other Views

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Property Details

CUTE AND CLOSE
Set on a low maintenance block and very handy to Mudgee's CBD this charming 2 bedroom cottage has undergone a complete makeover. With built ins, 2 living areas, screened outdoor entertaining area, new kitchen, bathroom, paint, carpet plus the comfort of gas heating, reverse cycle air conditioning, ceiling fans you are sure to be impressed with the value on offer. A perfect opportunity to secure a retirement property close to town or take advantage of Mudgee's thriving investment market- don't delay.

Andrew Blackman : 0413 488 844