Property News You Need To Know: The Week Ending 19 September
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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 $3,420,000.
The upward trend in home prices in COOGEE, 2034 averaged 5.84% per annum over a 3-year period.
Average weekly rents on listings have reached the $1175 mark, reflecting a 1.79% increase in returns based on the current median price in COOGEE.
An average of 5.33 real estate transactions take place per month in COOGEE which translates to 64 per annum.
64 properties were sold in COOGEE in 2016, making it the 253rd most active market in NSW based on total real estate transactions.
COOGEE, 2034 places 744th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||18.13%||8.29%|
|Median 3 years||17.53%||14.54%|
|Median 5 years||34.12%||33.06%|
|10 years average annual||8.26%||7.4%|
|Weekly media advert. rent||$1175||$650|
|Time on Market||140.0 days||57.6 days|
|Gross Rental Yield Percent||1.79%||2.6%|