A 23.72% increase in median property prices in BRONTE, 2024 has allowed this suburb to join the ranks of best performing suburbs in NSW, settling at number 77th.
A steady increase in median property prices over a five-year period in the suburb translates to a 64.74% 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 $3,912,500
The augmented property values in the suburb are trailing above the territorial average of 6.63% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $1300.
Home owners selling their properties and realtors in BRONTE usually have to wait an average of 57.2 days days before their assets are lifted off the market.
The NSW suburb ranks 1166th on the list of best yielding suburbs for rental properties in NSW, posting a 1.73% return.
It also places places 229th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 17.95% over the last 12 months in BRONTE, translating to lower returns compared with its peers in NSW.
A survey of average capital gains or median home price increase in suburbs across the country shows that BRONTE, 2024 obtained a 9.3% growth over a ten-year period. It ranks 32nd on our list of suburbs that property investors should look into.
BRONTE, 2024 has a capital gain of 17.95% for the past year, which is higher than average compared to its 89.04% growth within a five-year period.
With the median home price in BRONTE sitting at $1,380,000, and the average rent at $700, property owners could potentially earn a 2.64% increase in gross rental yield.
A 17.95% increase in median property prices in BRONTE, 2024 has allowed this suburb to join the ranks of best performing suburbs in NSW, settling at number 54th.
Figures from the previous quarter show that capital gains for real estate buyers in BRONTE are low, as opposed to average gains per annum over the past five years.
BRONTE, 2024 in NSW belongs to the local government area of Waverley.