Perth market conditions at 5-year high for buyers
A new index has found conditions in the Western Australian capital city are the best they’ve ever been for the last five years. ...
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 $1,857,500.
The upward trend in home prices in LANE COVE NORTH, 2066 averaged 6.17% per annum over a 3-year period.
Average weekly rents on listings have reached the $900 mark, reflecting a 2.52% increase in returns based on the current median price in LANE COVE NORTH.
An average of 4.42 real estate transactions take place per month in LANE COVE NORTH which translates to 53 per annum.
53 properties were sold in LANE COVE NORTH in 2016, making it the 342nd most active market in NSW based on total real estate transactions.
LANE COVE NORTH, 2066 places 599th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,857,500 | $762,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0.37% | -3.48% |
| Median 12 month | -13.81% | -3.48% |
| Median 3 years | 18.5% | 10.99% |
| Median 5 years | 70.41% | 33.42% |
| 10 years average annual | 8.64% | 6.44% |
| Weekly media advert. rent | $900 | $540 |
| Time on Market | 51.3 days | 54.2 days |
| Gross Rental Yield Percent | 2.52% | 3.68% |
A new index has found conditions in the Western Australian capital city are the best they’ve ever been for the last five years. ...
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