Online shopping surge breathes new life into mundane commercial property
The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, a...
FAIRLIGHT, 2094 ranks 355th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 19.63% for property investors.
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 $2,620,000.
The upward trend in home prices in FAIRLIGHT, 2094 averaged 4.47% per annum over a 3-year period.
Average weekly rents on listings have reached the $1220 mark, reflecting a 2.42% increase in returns based on the current median price in FAIRLIGHT.
An average of 4.08 real estate transactions take place per month in FAIRLIGHT which translates to 49 per annum.
49 properties were sold in FAIRLIGHT in 2016, making it the 383rd most active market in NSW based on total real estate transactions.
FAIRLIGHT, 2094 places 99th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,620,000 | $1,475,000 |
| GROWTH REPORT | ||
| Median Quarterly | 10.78% | 5.36% |
| Median 12 month | 19.63% | 19.38% |
| Median 3 years | 13.42% | 4.98% |
| Median 5 years | 46.16% | 56.5% |
| 10 years average annual | 7.97% | 8.32% |
| Weekly media advert. rent | $1220 | $690 |
| Time on Market | 0.0 days | 51.8 days |
| Gross Rental Yield Percent | 2.42% | 2.43% |
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