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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 $835,000.
The upward trend in home prices in PEARCE, 2607 averaged 7% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 4.05% increase in returns based on the current median price in PEARCE.
An average of 2.75 real estate transactions take place per month in PEARCE which translates to 33 per annum.
33 properties were sold in PEARCE in 2016, making it the 52nd most active market in ACT based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $835,000 | $497,500 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | N/A |
| Median 12 month | 1.21% | -6.57% |
| Median 3 years | 21.01% | 15.97% |
| Median 5 years | 27.48% | 1.12% |
| 10 years average annual | 4.09% | 8.03% |
| Weekly media advert. rent | $650 | $450 |
| Time on Market | 0.0 days | 0.0 days |
| Gross Rental Yield Percent | 4.05% | 4.7% |
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