Melbourne Sees Record-breaking Growth Despite Q3 Lockdowns
Low financing costs, change in housing-type preferences due to flexible work arrangements, and government support for ow...
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 $1,335,000.
The upward trend in home prices in TEMPE, 2044 averaged 4.38% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 2.53% increase in returns based on the current median price in TEMPE.
An average of 5.25 real estate transactions take place per month in TEMPE which translates to 63 per annum.
63 properties were sold in TEMPE in 2016, making it the 258th most active market in NSW based on total real estate transactions.
TEMPE, 2044 places 671st in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||6.8%||N/A|
|Median 3 years||13.14%||N/A|
|Median 5 years||28.67%||N/A|
|10 years average annual||7.23%||N/A|
|Weekly media advert. rent||$650||N/A|
|Time on Market||59.0 days||N/A|
|Gross Rental Yield Percent||2.53%||N/A|