House Prices Push Average Australian’s Wealth Even Higher In 2022
Despite worries of a housing downturn, Australians’ wealth actually increased 1.2 per cent on average in the first qua...
A 51.45% increase in median property prices in NEWPORT, 2106 has allowed this suburb to join the ranks of best performing suburbs in NSW, settling at number 65th.
A steady increase in median property prices over a five-year period in the suburb translates to a 75.5% capital gain.
It 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 $3,216,000
The augmented property values in the suburb are trailing above the territorial average of 23.63% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $1100.
Home owners selling their properties and realtors in NEWPORT usually have to wait an average of 55.9 days days before their assets are lifted off the market.
The NSW suburb ranks 1012th on the list of best yielding suburbs for rental properties in NSW, posting a 1.78% return.
It also places places 778th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||51.45%||25%|
|Median 3 years||75.5%||41.62%|
|Median 5 years||83.77%||49.03%|
|10 years average annual||12.38%||9.5%|
|Weekly media advert. rent||$1100||$597.5|
|Time on Market||55.9 days||33.1 days|
|Gross Rental Yield Percent||1.78%||2.54%|