Stability paving the way for property market gains
The housing market’s continual strength cannot be discounted despite the national property market’s recent dive to its largest value lo...
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 2.2% for the past year.
Investors saw the median home price rise to $1,350,000.
Profits due to an downward trend in home prices in the suburb averaged -0.57% per annum over a 3-year period.
TURNER now ranks at the th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in TURNER are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $637.5 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 0.0 days.
In 2016, 16 properties were sold in TURNER during the past year, making it the 87th most active market in ACT based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,350,000 | $512,250 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | 0.34% |
| Median 12 month | 2.2% | 0.84% |
| Median 3 years | -1.71% | 6.94% |
| Median 5 years | 34.66% | 13.83% |
| 10 years average annual | 8.33% | 1.94% |
| Weekly media advert. rent | $637.5 | $480 |
| Time on Market | 0.0 days | 80.3 days |
| Gross Rental Yield Percent | 2.46% | 4.87% |
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