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Forbes, NSW 2871

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Forbes, NSW 2871 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

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Rent 

2BR

3BR

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Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

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2BR

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Forbes, NSW 2871”

  1. The total adult population (15 years or older) of Forbes 2871 NSW is 6,568, with a median age of 42. Of those, 44.81% are married, 13.25% are divorced or separated, 34.30% are single and 7.72% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $6,564. The median monthly mortgage repayment for households in this suburb is $1,257 which is 19.15% of their earnings.

    Source: ABS Census Data (2021)

  2. The rural town of Forbes (postcode 2871) in NSW is a tight-knit community consisting of an estimated 4,726 households. As we delve into Q3 2023, the property market characteristics of this charming town come into view.

    The going house price in Forbes stands at a tempting $532,312, paired with a median weekly rent of $404. This represents an attractive indicative yield of 3.95%, surpassing the standard market requirement of 3%, thereby drawing the attention of potential investors.

    With an IRSAD score of 929 out of 1,217, the socio-economic condition in Forbes is commendable, signaling decent access to economic resources, relatively high income levels and a population comprising skilled professionals.

    Looking into property ownership patterns in this suburb, the renter to owner ratio stands at 28%. This figure underlines a positive investment aspect as it’s below the 30% threshold and demonstrates a well-balanced property market where rental competition is far from saturated.

    Further enhancing the property market appeal is a minimal units to houses ratio of 3%. This suggests an opportunity for less competition among landlords for tenants, favouring longer tenancy periods and potential for higher rental yields.

    However, the suburb’s affordability index is somewhat on the higher end at 32 years, indicating the required period for completely owning a property. Even though the figure crosses the favourable threshold of 30 years, it’s essential to examine this within the wider economic context and trends, as this could indicate a prosperous and desirable area with anticipated long-term capital growth.

    Adding to the positive indicators of the Forbes property market, the stock on market percentage is favourably low at 0.17% alongside an equally desirable inventory level of 0.9 months, both indicative of a low-supply market condition.

    Additionally, the building approvals ratio sits at a promising 0.15% which demonstrates balanced growth and readiness for potential market increases without the risk of market oversaturation.

    Properties in Forbes are spending an average of 32 days on the market, which positions the town as a high-demand area. This factor is further supported by a very low vacancy rate of 0.83%, implying a high-demand/low-supply scenario that property investors often seek.

    Moreover, the buy search index for houses currently sits at 3. Although this could be perceived as limited demand in some instances, considering the predominant favourable market conditions in Forbes, this could indicate a relatively steady or balanced demand.

    It’s noteworthy that RCS (Relative Composite Score) developed by HtAG Analytics could provide quick and accurate insight into the Forbes real estate market by considering over 80 factors especially if you’re limited by time and need to make rapid investment decisions.

    In conclusion, the house market in Forbes is showing largely favourable indicators for property investors while keeping in mind the importance of tracking trends and understanding the broader socio-economic picture. Despite some metrics falling out of favour, the majority of signals are positioned in the advantageous range. Therefore, it’s fair to say that Forbes 2871 may very well be a market of interest for savvy property investors.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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