Property market update: Perth, September 2019
Experts believe that, while other major capital series are on their way to recovery, Perth is just “at the right stage of the property cyc...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $826,000.
The upward trend in home prices in PEARCE, 2607 averaged 4.72% per annum over a 3-year period.
Average weekly rents on listings have reached the $600 mark, reflecting a 3.78% increase in returns based on the current median price in PEARCE.
An average of 2.5 real estate transactions take place per month in PEARCE which translates to 30 per annum.
30 properties were sold in PEARCE in 2016, making it the 69th most active market in ACT based on total real estate transactions.
PEARCE, 2607 places 55th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $826,000 | $488,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.12% | 0% |
| Median 12 month | 0.12% | 4.95% |
| Median 3 years | 14.17% | -4.08% |
| Median 5 years | 35.19% | 16.19% |
| 10 years average annual | 5.08% | 1.88% |
| Weekly media advert. rent | $600 | $445 |
| Time on Market | 128.0 days | 65.3 days |
| Gross Rental Yield Percent | 3.78% | 4.74% |
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