Victorian land sales strong despite restrictions
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $800,000.
The upward trend in home prices in FORDE, 2914 averaged 2.22% per annum over a 3-year period.
Average weekly rents on listings have reached the $640 mark, reflecting a 4.16% increase in returns based on the current median price in FORDE.
An average of 6.17 real estate transactions take place per month in FORDE which translates to 74 per annum.
74 properties were sold in FORDE in 2016, making it the 6th most active market in ACT based on total real estate transactions.
FORDE, 2914 places th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $800,000 | $565,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | -0.44% |
| Median 12 month | 1.91% | -2.04% |
| Median 3 years | 6.67% | 2.73% |
| Median 5 years | 18.52% | 7.62% |
| 10 years average annual | 12.91% | 1.89% |
| Weekly media advert. rent | $640 | $545 |
| Time on Market | 62.9 days | 92.2 days |
| Gross Rental Yield Percent | 4.16% | 5.02% |
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