Discounted Central Coast home cheapest NSW weekend auction at 8% yield
Sydney’s cheapest weekend auction sale price was in the Central Coast suburb of Lake Munmorah, according to Australian Property Monitors.
The one storey brick veneer dwelling at 5 Winchester Drive sold for $227,000 through Ray White Budgewoi.
The three bedroom, one bathroom house last sold for $230,000 in October 2007.
It was listed for sale in March 2012 through to August 2012 with a price of $280, 000, according to RP Data.
It had last been available for rent in November 2012 with a weekly listed rental price of $350, which would equate to a gross yield of around 8% at its latest sale price.
The home was built in 2004 and sits on 402 square metre block.
It is in close proximity to local shops and walking tracks and was “located in a quiet street,” said real estate agent Wendy McLeod.
The change in the average median price over five years in Lake Munmorah is currently 6.6%, according to RP Data.
The median asking rental price is $330 per week, according to RP Data with the average days on the market at 121.