Property News You Need To Know: The Week Ending 19 September
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A 10.51% 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 72nd.
A steady increase in median property prices over a five-year period in the suburb translates to a 18.78% 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 $873,000
The augmented property values in the suburb are trailing behind the territorial average of 16.03% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $675.
Home owners selling their properties and realtors in CRACE usually have to wait an average of 95.2 days days before their assets are lifted off the market.
The ACT suburb ranks 36th on the list of best yielding suburbs for rental properties in ACT, posting a 4.02% return.
It also places places 39th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||10.51%||0.55%|
|Median 3 years||18.78%||-10.81%|
|Median 5 years||26.98%||N/A|
|10 years average annual||14.83%||-5.35%|
|Weekly media advert. rent||$675||$475|
|Time on Market||95.2 days||42.5 days|
|Gross Rental Yield Percent||4.02%||6.73%|