Buy­ers head east for great value

The Northern Star - - NEWS - ALI­SON PATER­SON ali­son.pater­son@north­ern­star.com.au HAVE YOUR SAY north­ern­star.com.au

WITH more than 100 houses chang­ing hands in the past 12 months, East Lis­more is ce­ment­ing its po­si­tion as one of the most pop­u­lar sub­urbs in the 2480 post­code.

Ac­cord­ing to new data from Core Logic, in the 12 months to June 30, 2018, 110 houses and 16 units changed hands with me­dian price of $370,000 and $230,000 re­spec­tively.

House prices dur­ing this pe­riod in­creased 13.8 per cent and grew 15.6 per cent in the three years to June 30.

While units fell 10.5 per cent, they have proved a good in­vest­ment in the longer term, with a sig­nif­i­cant 38.1 per cent in­crease in value in the three year to June 30.

East Lis­more’s res­i­den­tial stock com­pris­ing 71 per cent houses, 14.1 per cent semi-de­tached and flats or units 6.7 per cent.

With a pop­u­la­tion of around 5,000, the me­dian age of 40 years, the sub­urb is very pop­u­lar with fam­i­lies, with 12 per cent of res­i­dents aged un­der nine and 24 per cent aged un­der 19 years.

Around 30.3 per cent own their homes outright, 26.3 per cent are pay­ing off a mort­gage and 39.5 per cent are rent­ing.

Bounded on the west by the Rich­mond River and to the north by Bal­lina Rd, the sub­urb is home to South­ern Cross Univer­sity, the 41st Bat­tal­ion, Royal NSWR, St Vin­cent’s Hospi­tal and sev­eral well re­garded schools.

With plenty of parks and recre­ational fa­cil­i­ties, the area at­tracts fam­i­lies as well as pro­fes­sional cou­ples and peo­ple study­ing at SCU.

East Lis­more has a strong rental mar­ket, and cur­rently the me­dian ask­ing rent if $350 a week.

Patch & Tay­lor agent Zell Ben­nett said a prop­erty at 57 Cald­well Ave, East Lis­more, is on the mar­ket for $395,000.

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