Property market update: Melbourne, March 2020
The world came to a halt in March following the imposition of city-wide lockdowns to combat the spread of COVID-19. How will the Melbourne p...
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CHATSWOOD WEST, 2067 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 $1,480,000.
Profits due to an downward trend in home prices in the suburb averaged -5.14% per annum over a 3-year period.
CHATSWOOD WEST now ranks at the 583rd 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 CHATSWOOD WEST are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $945 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 CHATSWOOD WEST, homes and units usually stay on listing for an average of 68.4 days.
In 2016, 18 properties were sold in CHATSWOOD WEST during the past year, making it the 958th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,480,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.37% | N/A |
| Median 12 month | -20% | N/A |
| Median 3 years | -15.43% | N/A |
| Median 5 years | 3.86% | N/A |
| 10 years average annual | 4.87% | N/A |
| Weekly media advert. rent | $945 | N/A |
| Time on Market | 68.4 days | N/A |
| Gross Rental Yield Percent | 3.32% | N/A |
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