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Property investments in PHILLIP did not fare well against the rest of the country last year, registering a median home price decrease of -7.53%.
Figures from the previous quarter show that capital gains for real estate buyers in PHILLIP are low, 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 decrease in the long term.
This means, real estate investors could earn a rental income of $450 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 80.2 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 $356,000
Investors saw the median home price rise to $356,000.
PHILLIP ranks 5th on the list of best yielding suburbs for rental properties in ACT, posting a 6.57% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | N/A | $356,000 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | -5.07% |
| Median 12 month | N/A | -7.53% |
| Median 3 years | N/A | 0.99% |
| Median 5 years | N/A | -1.11% |
| 10 years average annual | N/A | 0.61% |
| Weekly media advert. rent | N/A | $450 |
| Time on Market | N/A | 80.2 days |
| Gross Rental Yield Percent | N/A | 6.57% |
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