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...
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 $3,283,500.
The upward trend in home prices in FAIRLIGHT, 2094 averaged 13.3% per annum over a 3-year period.
Average weekly rents on listings have reached the $1100 mark, reflecting a 1.74% increase in returns based on the current median price in FAIRLIGHT.
An average of 4.5 real estate transactions take place per month in FAIRLIGHT which translates to 54 per annum.
54 properties were sold in FAIRLIGHT in 2016, making it the 355th most active market in NSW based on total real estate transactions.
FAIRLIGHT, 2094 places 34th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||38.84%||13.93%|
|Median 3 years||39.9%||22.69%|
|Median 5 years||73.73%||25.34%|
|10 years average annual||10.77%||8.5%|
|Weekly media advert. rent||$1100||$700|
|Time on Market||18.6 days||40.8 days|
|Gross Rental Yield Percent||1.74%||2.28%|