Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
KENSINGTON, 2033 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling KENSINGTON, 2033 values up and netting property investors a capital gain of 22.2% for the past year.
Investors saw the median home price rise to $3,275,000.
Profits due to an upward trend in home prices in the suburb averaged 7.32% per annum over a 3-year period.
KENSINGTON now ranks at the 1317th 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 KENSINGTON are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $995 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In KENSINGTON, homes and units usually stay on listing for an average of 71.3 days.
In 2016, 61 properties were sold in KENSINGTON during the past year, making it the 302nd most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||22.2%||8.58%|
|Median 3 years||21.97%||9.85%|
|Median 5 years||43.17%||14.34%|
|10 years average annual||8.31%||5.89%|
|Weekly media advert. rent||$995||$495|
|Time on Market||71.3 days||52.9 days|
|Gross Rental Yield Percent||1.58%||2.67%|