Property values to hit record highs by April
As national dwelling values continue to rise, property prices could revert to record highs within six months, according to CoreLogic. ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The 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 $622,000.
The upward trend in home prices in MELBA, 2615 averaged 6.42% per annum over a 3-year period.
Average weekly rents on listings have reached the $550 mark, reflecting a 4.6% increase in returns based on the current median price in MELBA.
An average of 3.08 real estate transactions take place per month in MELBA which translates to 37 per annum.
37 properties were sold in MELBA in 2016, making it the 54th most active market in ACT based on total real estate transactions.
MELBA, 2615 places 18th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $622,000 | $370,000 |
| GROWTH REPORT | ||
| Median Quarterly | 3.24% | 3.5% |
| Median 12 month | 11.07% | -25.25% |
| Median 3 years | 19.27% | N/A |
| Median 5 years | 30.95% | N/A |
| 10 years average annual | 4.19% | -25.25% |
| Weekly media advert. rent | $550 | N/A |
| Time on Market | 53.0 days | 0.0 days |
| Gross Rental Yield Percent | 4.6% | N/A |
As national dwelling values continue to rise, property prices could revert to record highs within six months, according to CoreLogic. ...
Pet and smoking bans could form part of new strata laws currently being considered by Queensland’s state government. ...
House and land packages can often help investors make their money work harder in favourable market conditions and allow them to build equi...
While property prices continue to show signs of growth, Aussie consumers are reporting stronger levels of confidence, according to new resea...
The property market continued to see improvement in home lending over the September quarter, but stats remain lower than they were at the sa...
The Sydney-suburb of Seven Hills is gaining popularity, with more investors looking to take advantage of recent developments in the area. ...
Get notifications in real-time for staying up to date with content that matters to you.