Property management: You get what you pay for
Lately there have been some new ‘startups’ in the property management space that are trying to swing investors away from traditional pro...
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 $2,312,500.
The upward trend in home prices in FAIRLIGHT, 2094 averaged 12.28% per annum over a 3-year period.
Average weekly rents on listings have reached the $1300 mark, reflecting a 2.92% increase in returns based on the current median price in FAIRLIGHT.
An average of 3.42 real estate transactions take place per month in FAIRLIGHT which translates to 41 per annum.
41 properties were sold in FAIRLIGHT in 2016, making it the 493rd most active market in NSW based on total real estate transactions.
FAIRLIGHT, 2094 places 735th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,312,500 | $1,250,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.11% | -5.84% |
| Median 12 month | 9.86% | -4.03% |
| Median 3 years | 36.83% | 42.05% |
| Median 5 years | 88.47% | 71.23% |
| 10 years average annual | 7.12% | 6.83% |
| Weekly media advert. rent | $1300 | $747.5 |
| Time on Market | 35.6 days | 35.4 days |
| Gross Rental Yield Percent | 2.92% | 3.11% |
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