What does 2020 have in store for property investors
Following a year of two halves, 2020 could be a strong one for property investors if they look at the data, an industry expert has suggested...
Based on its average 5-year and quarterly capital gains SPENCE, 2615 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that SPENCE, 2615 obtained a 4.32% growth over a ten-year period. It ranks 1904th on our list of suburbs that property investors should look into.
SPENCE, 2615 in ACT belongs to the local government area of Unincorporated ACT.
SPENCE, 2615 has a capital gain of 4.17% for the past year, which is lower than average compared to its 32.98% growth within a five-year period.
With the median home price in SPENCE sitting at $625,000, and the average rent at $500, property owners could potentially earn a 4.16% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in SPENCE are low, as opposed to average gains per annum over the past five years.
A 4.17% increase in median property prices in SPENCE, 2615 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 35th.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $625,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | 4.17% | N/A |
| Median 3 years | 17.92% | N/A |
| Median 5 years | 32.98% | N/A |
| 10 years average annual | 4.32% | N/A |
| Weekly media advert. rent | $500 | N/A |
| Time on Market | 67.4 days | N/A |
| Gross Rental Yield Percent | 4.16% | N/A |
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