From TripAdvisor’s 2015 top 10 list of best holiday destinations, Cessnock has the highest investment potential in terms of house prices and yield, according to comparison website finder.com.au.
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In March this year Cessnock was voted sixth on TripAdvisor’s 2015 top 10 list of best holiday destinations in Australia.
Despite Sydney holding onto the top spot as most popular holiday destination, its investment potential has plummeted in the last 12 months.
“Out of the top 10 travel destinations we analysed, Cessnock had both a low median house price and a modest median rental price, which put its yield at 5.89 per cent –that’s a whopping 1.35 per cent above second place,” finder.com.au money expert Michelle Hutchison said.
With a median house price of $269,000, Cessnock is the cheapest housing market of the top 10 destinations with the average rent price at $305 per week.
“While it can be easy to mix work and pleasure when it comes to choosing an investment property location, research shows it’s not the case that your favourite beach is the best bang for your property buck,” Ms. Hutchison said.
The TripAdvisor list was compiled from travellers’ ratings and reviews of their most recommended destinations.
