Financial complaints soar as new body opens doors
The new body that fields financial complaints has fielded over 13,000 enquiries in its first month, including those relating to investment p...
LANE COVE, 2066 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 LANE COVE, 2066 values up and netting property investors a capital gain of 0.23% for the past year.
Investors saw the median home price rise to $2,205,000.
Profits due to an upward trend in home prices in the suburb averaged 10.73% per annum over a 3-year period.
LANE COVE now ranks at the 599th 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 $990 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 68.1 days.
In 2016, 65 properties were sold in LANE COVE during the past year, making it the 235th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,205,000 | $850,000 |
| GROWTH REPORT | ||
| Median Quarterly | -2% | 0.15% |
| Median 12 month | 0.23% | -2.55% |
| Median 3 years | 32.19% | 10.39% |
| Median 5 years | 83.56% | 42.86% |
| 10 years average annual | 7.88% | 6.96% |
| Weekly media advert. rent | $990 | $560 |
| Time on Market | 68.1 days | 41.9 days |
| Gross Rental Yield Percent | 2.33% | 3.43% |
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