What the NSW election result means for property investors
NSW Premier Gladys Berejiklian is set to remain in power for another term, so what does that mean for property investment in NSW? ...
LANE COVE, 2066 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 $2,080,000.
Profits due to an upward trend in home prices in the suburb averaged 4.61% per annum over a 3-year period.
LANE COVE now ranks at the 636th 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 LANE COVE 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 $900 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 LANE COVE, homes and units usually stay on listing for an average of 68.4 days.
In 2016, 76 properties were sold in LANE COVE during the past year, making it the 138th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,080,000 | $810,000 |
| GROWTH REPORT | ||
| Median Quarterly | -5.45% | -3.57% |
| Median 12 month | -13.33% | -10.74% |
| Median 3 years | 13.82% | 0% |
| Median 5 years | 61.24% | 19.12% |
| 10 years average annual | 8.37% | 6.69% |
| Weekly media advert. rent | $900 | $570 |
| Time on Market | 68.4 days | 49.0 days |
| Gross Rental Yield Percent | 2.25% | 3.66% |
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