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 11.63% for the past year.
Investors saw the median home price rise to $2,232,500.
Profits due to an upward trend in home prices in the suburb averaged 12.6% per annum over a 3-year period.
LANE COVE now ranks at the 1168th 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 $982.5 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 59.1 days.
In 2016, 67 properties were sold in LANE COVE during the past year, making it the 208th most active market in NSW based on total real estate transactions.
LANE COVE ranks 362nd in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
LANE COVE, 2066 has a capital gain of -3.19% for the past year, which is lower than average compared to its 46.55% growth within a five-year period.
With the median home price in LANE COVE sitting at $850,000, and the average rent at $575, property owners could potentially earn a 3.52% increase in gross rental yield.
Property investors have seen a -2.3% drop in LANE COVE based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that LANE COVE, 2066 obtained a 7.27% growth over a ten-year period. It ranks 106th on our list of suburbs that property investors should look into.