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 $633,500.
The upward trend in home prices in CASEY, 2913 averaged 8.9% per annum over a 3-year period.
Average weekly rents on listings have reached the $480 mark, reflecting a 3.94% increase in returns based on the current median price in CASEY.
An average of 10.83 real estate transactions take place per month in CASEY which translates to 130 per annum.
130 properties were sold in CASEY in 2016, making it the 83rd most active market in ACT based on total real estate transactions.
CASEY, 2913 places 61st 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 $412,000.
Investors saw the median home price rise to $412,000.
The downward trend in home prices in CASEY, 2913 averaged -1.65% per annum over a 3-year period.
CASEY now ranks at the 51st 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 CASEY are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $400 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 CASEY, homes and units usually stay on listing for an average of 65.2 days.
44 properties were sold in CASEY in 2016, making it the 20th most active market in ACT based on total real estate transactions.
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