Property Market Update: Melbourne, September 2021
Melbourne’s property market kept the ball rolling in September as the city’s dwelling values rose once more during t...
Property investors enjoyed capital gains of 17.39% over the last 12 months in BALGOWLAH, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in BALGOWLAH are low, as opposed to average gains per annum over the past five years.
The suburb posted a 30% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $1100 based on current median home prices for the suburb.
On average, rents on listings have reached the $1100 mark, reflecting a 2.1% increase in returns based on the current median price in BALGOWLAH.
BALGOWLAH, 2093 ranks 137th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 974th on the list of best yielding suburbs for rental properties in NSW, posting a 2.1% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||17.39%||11.07%|
|Median 3 years||30%||14.49%|
|Median 5 years||50%||48.96%|
|10 years average annual||8.8%||8.91%|
|Weekly media advert. rent||$1100||$650|
|Time on Market||47.8 days||34.6 days|
|Gross Rental Yield Percent||2.1%||2.36%|