Auction ban drives up withdrawal rates
The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...
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 $589,375.
The upward trend in home prices in WANNIASSA, 2903 averaged 3.73% per annum over a 3-year period.
Average weekly rents on listings have reached the $550 mark, reflecting a 4.85% increase in returns based on the current median price in WANNIASSA.
An average of 10 real estate transactions take place per month in WANNIASSA which translates to 120 per annum.
120 properties were sold in WANNIASSA in 2016, making it the 88th most active market in ACT based on total real estate transactions.
WANNIASSA, 2903 places 35th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $589,375 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.18% | N/A |
| Median 12 month | 1.62% | N/A |
| Median 3 years | 11.2% | N/A |
| Median 5 years | 18.71% | N/A |
| 10 years average annual | 3.26% | N/A |
| Weekly media advert. rent | $550 | N/A |
| Time on Market | 45.0 days | N/A |
| Gross Rental Yield Percent | 4.85% | N/A |
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