Online shopping surge breathes new life into mundane commercial property
The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, a...
TEMPE, 2044 ranks 551st on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 16.06% for property investors.
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 $1,250,500.
The upward trend in home prices in TEMPE, 2044 averaged 0.69% per annum over a 3-year period.
Average weekly rents on listings have reached the $675 mark, reflecting a 2.81% increase in returns based on the current median price in TEMPE.
An average of 5 real estate transactions take place per month in TEMPE which translates to 60 per annum.
60 properties were sold in TEMPE in 2016, making it the 266th most active market in NSW based on total real estate transactions.
TEMPE, 2044 places 955th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,250,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.04% | N/A |
| Median 12 month | 16.06% | N/A |
| Median 3 years | 2.08% | N/A |
| Median 5 years | 27.93% | N/A |
| 10 years average annual | 6.64% | N/A |
| Weekly media advert. rent | $675 | N/A |
| Time on Market | 28.4 days | N/A |
| Gross Rental Yield Percent | 2.81% | N/A |
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