Vacancy rates hold steady
Vacancy rates have come to a standstill in some areas, remaining at 2.2 per cent nationwide. ...
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 $1,975,000.
The upward trend in home prices in AVALON, 2107 averaged 7.6% per annum over a 3-year period.
Average weekly rents on listings have reached the $850 mark, reflecting a 2.24% increase in returns based on the current median price in AVALON.
An average of 12.83 real estate transactions take place per month in AVALON which translates to 154 per annum.
154 properties were sold in AVALON in 2016, making it the 1047th most active market in NSW based on total real estate transactions.
AVALON, 2107 places 168th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,975,000 | $790,000 |
| GROWTH REPORT | ||
| Median Quarterly | 6.18% | 0.64% |
| Median 12 month | 13.7% | -5.39% |
| Median 3 years | 22.79% | 11.27% |
| Median 5 years | 54.9% | 36.41% |
| 10 years average annual | 7.57% | 5.92% |
| Weekly media advert. rent | $850 | $550 |
| Time on Market | 72.3 days | 107.0 days |
| Gross Rental Yield Percent | 2.24% | 3.62% |
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