Migration cut plans set to impact property market
Top property industry bosses hold opposing views to the Prime Minister’s recently announced plan to reduce Australia’s migration intak...
A -0.07% increase in median property prices in CRACE, 2911 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 69th.
A steady increase in median property prices over a five-year period in the suburb translates to a 9.68% capital gain.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $765,000
The augmented property values in the suburb are trailing behind the territorial average of 5.35% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $507.5.
Home owners selling their properties and realtors in CRACE usually have to wait an average of 59.8 days days before their assets are lifted off the market.
The ACT suburb ranks 67th on the list of best yielding suburbs for rental properties in ACT, posting a 3.45% return.
It also places places 36th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $765,000 | $387,500 |
| GROWTH REPORT | ||
| Median Quarterly | 1.26% | 13.3% |
| Median 12 month | -0.07% | N/A |
| Median 3 years | 9.68% | 25.04% |
| Median 5 years | 34.21% | 4.45% |
| 10 years average annual | 11.72% | N/A |
| Weekly media advert. rent | $507.5 | $370 |
| Time on Market | 59.8 days | 0.0 days |
| Gross Rental Yield Percent | 3.45% | 4.97% |
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