Low rates, rising house prices ease debt woes
Record low mortgage rates and rising property prices are improving households’ comfort with debt in the major cities in Australia even as ...
NORTH WILLOUGHBY, 2068 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 $2,010,000.
Profits due to an downward trend in home prices in the suburb averaged -3.66% per annum over a 3-year period.
NORTH WILLOUGHBY now ranks at the 1178th 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 NORTH WILLOUGHBY 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 $955 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 NORTH WILLOUGHBY, homes and units usually stay on listing for an average of 71.5 days.
In 2016, 35 properties were sold in NORTH WILLOUGHBY during the past year, making it the 558th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,010,000 | $853,000 |
| GROWTH REPORT | ||
| Median Quarterly | -14.29% | 6.49% |
| Median 12 month | -13.83% | 6.49% |
| Median 3 years | -10.98% | 6.63% |
| Median 5 years | 14.53% | 21.42% |
| 10 years average annual | 6.62% | 6.91% |
| Weekly media advert. rent | $955 | $560 |
| Time on Market | 71.5 days | 0.0 days |
| Gross Rental Yield Percent | 2.47% | 3.41% |
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