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 $595,000.
The upward trend in home prices in WANNIASSA, 2903 averaged 6.57% per annum over a 3-year period.
Average weekly rents on listings have reached the $500 mark, reflecting a 4.37% increase in returns based on the current median price in WANNIASSA.
An average of 6.58 real estate transactions take place per month in WANNIASSA which translates to 79 per annum.
79 properties were sold in WANNIASSA in 2016, making it the 4th most active market in ACT based on total real estate transactions.
WANNIASSA, 2903 places 50th in Australia based on median property value growth during the quarter.
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 $389,500.
Investors saw the median home price rise to $389,500.
The downward trend in home prices in WANNIASSA, 2903 averaged -0.21% per annum over a 3-year period.
WANNIASSA now ranks at the 53rd 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 WANNIASSA are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $370 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In WANNIASSA, homes and units usually stay on listing for an average of 0.0 days.
16 properties were sold in WANNIASSA in 2016, making it the 53rd most active market in ACT based on total real estate transactions.
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