‘It’s a terrific time to be investing in commercial property’: Ray White
Ray White Commercial’s head of agency operations, Andrew Freeman, has shared how the commercial market is playing out for keen investors. ...
TURNER, 2612 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in ACT have risen as a whole, pulling TURNER, 2612 values up and netting property investors a capital gain of 15.74% for the past year.
Investors saw the median home price rise to $1,562,500.
Profits due to an upward trend in home prices in the suburb averaged 8.91% per annum over a 3-year period.
TURNER now ranks at the 8th place on a list of fastest growing suburbs in the territory.
Because of this real estate investors could earn a rental income of $600 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In TURNER, homes and units usually stay on listing for an average of 88.6 days.
In 2016, 15 properties were sold in TURNER during the past year, making it the 84th most active market in ACT based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,562,500 | $450,000 |
| GROWTH REPORT | ||
| Median Quarterly | 4.34% | 8.04% |
| Median 12 month | 15.74% | -12.15% |
| Median 3 years | 26.72% | -2.81% |
| Median 5 years | N/A | -3.23% |
| 10 years average annual | 4.8% | 0.85% |
| Weekly media advert. rent | $600 | $500 |
| Time on Market | 88.6 days | 78.9 days |
| Gross Rental Yield Percent | 2% | 5.78% |
Ray White Commercial’s head of agency operations, Andrew Freeman, has shared how the commercial market is playing out for keen investors. ...
Landlords have received welcome news, with the Minister for Housing confirming there is no rental freeze during the moratorium. ...
The Reserve Bank has “no appetite” for negative interest rates, with the current cash rate locked in for an “extended period”, the c...
Low interest rates and mortgage repayment relief measures could “insulate” residential property prices from a looming “plunge” in ho...
The number of dwellings approved for construction in February jumped by almost 20 per cent when compared with January, highlighting the stre...
The House of Representatives standing committee on social policy and legal affairs has agreed to suspend its inquiry into homelessness in Au...
Get notifications in real-time for staying up to date with content that matters to you.
Subscribe to our newsletter
