Property investments in PHILLIP fare well against the rest of the country last year, registering a median home price increase of 6.61%.
Figures from the previous quarter show that capital gains for real estate buyers in PHILLIP are high, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains PHILLIP, 2606 saw average growth in the long term.
This means, real estate investors could earn a rental income of $380 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In PHILLIP, homes and units usually stay on listing for an average of 68.4 days.
the ACT suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $355,000
Investors saw the median home price rise to $355,000.
PHILLIP ranks 7th on the list of best yielding suburbs for rental properties in ACT, posting a 5.57% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||6.61%|
|Median 3 years||N/A||2.01%|
|Median 5 years||N/A||-8.39%|
|10 years average annual||N/A||2.29%|
|Weekly media advert. rent||N/A||$380|
|Time on Market||N/A||68.4 days|
|Gross Rental Yield Percent||N/A||5.57%|