Suburb: Cardiff
Purchase Year: 2015 – 6 years and 10 months form date of report.
Purchase Price: $430,000
Current Desk Top Valuations: $815,000
A very nervous first time investor came to us with a limited budget.
We were able to guide her to an area where her money would buy the best product for her goals.
The property has never been vacant and has almost doubled in value.
Our client has since bought her second investment property through us, which is also thriving.
Disclaimer: For the current valuation, we used Corelogic Intellival Automated Valuation estimated price.
Suburb Snapshot: Cardiff
Cardiff is a suburb in the Lake Macquarie LGA, located 17 kilometres west-southwest of Newcastle. In recent years it has become popular with first home buyers due to its train line, shops and amenities. It has two government primary schools, a Catholic primary school and a government high school.
Cardiff is approximately 5.2 square kilometres. The population of Cardiff in 2011 was 5,778 people. By 2016 the population was 5,824 showing a population growth of 0.8% in the area during that time. The predominant age group in Cardiff is 30-39 years. Households in Cardiff are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Cardiff work in a professional occupation. In 2011, 74% of the homes in Cardiff were owner-occupied compared with 71.4% in 2016.
Currently the median sales price of houses in the area is $725,000.
Based on five years of sales, Cardiff has seen a compound growth rate of 16.4% for houses and 12.8% for units.
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