How Does An Economist View Labor’s Housing Plans?
Saturday’s (21 May) federal election brought with it a new government, with the Albanese-led Labor party winning power...
A 23.13% increase in median property prices in OXLEY, 2903 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 56th.
A steady increase in median property prices over a five-year period in the suburb translates to a 43.1% capital gain.
It 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 $825,000
The augmented property values in the suburb are trailing behind the territorial average of 23.9% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.
Home owners selling their properties and realtors in OXLEY usually have to wait an average of 0.0 days days before their assets are lifted off the market.
The ACT suburb ranks 15th on the list of best yielding suburbs for rental properties in ACT, posting a 4.1% return.
It also places places 36th in Australia based on median property value growth during the quarter.
Oxley is a suburb in the Tuggeranong district of Canberra, bounded by Drakeford Drive, Taverner Street, and Erindale Drive. It lies next to the suburbs of Wanniassa, Monash, and Kambah, and across the Lake Tuggeranong. The suburb’s namesake was John Joseph Oxley, a British explorer who discovered the Brisbane River and was the Surveyor-General of NSW.
Things to do in Oxley
Oxley is near the Lake Tuggeranong area and its enthralling foreshore. At its heart rises Oxley Hill, a minute hill that’s perfect for hiking and sunset viewing. For entertainment and leisure, Wanniassa’s lively lifestyle precincts are just a short drive away. Oxley has its own school, the Oxley Early Learning Centre, and is also close to nearby Wanniassa schools, such as the Trinity Christian School.
The housing stock in Oxley is low, with visits per property slightly surpassing the average for entire Canberra. This makes Oxley a high-demand market and among the top suburbs in Tuggeranong that showed a modest property value increase by postcode. Growth indicators are on an upward trend, with the median home price reaching $645,000.
The average income from rental properties is meanwhile up by 4.11 per cent. The average house price reflects a nearly 10 per cent increase for the last five years, while data for the past three years show that the price has climbed by over 10 per cent.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.13%||N/A|
|Median 3 years||43.1%||N/A|
|Median 5 years||42.24%||N/A|
|10 years average annual||4.63%||N/A|
|Weekly media advert. rent||$650||N/A|
|Time on Market||0.0 days||N/A|
|Gross Rental Yield Percent||4.1%||N/A|