Niagara Park, Gosford district investor seeks 6.2% yield

Jemma NottFebruary 10, 2013

The cheapest NSW property sale of last weekend was at $250,500 at Niagara Park on the central coast, according to Australian Property Monitors.

Its selling agent, Garry Morris, of LJ Hooker, Gosford, says the two-bedroom town house was sold to a first-time investor after four contracts had been issued and three bidders competed at its auction.

The property was previously sold in 1999 at $137,000. The town house had a reserve of $240,000.

Its sale price reflected an annual price growth of 4.55%.

The investor hopes to lease the house at $300 a week, which would reflect a rental yield of 6.2%.

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