Australia is in the midst of ‘the biggest rental crisis in history’, expert says
Australia’s property market has never been more paradoxical, with intense rental pressure recorded in a majority of towns and cities, but ...
A steady increase in median property prices over a five-year period in the suburb translates to a 29.09% 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 $3,550,000
The augmented property values in the suburb are trailing behind the territorial average of 6.97% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $1500.
Home owners selling their properties and realtors in PALM BEACH usually have to wait an average of 77.7 days days before their assets are lifted off the market.
The NSW suburb ranks 992nd on the list of best yielding suburbs for rental properties in NSW, posting a 2.2% return.
It also places places 675th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $3,550,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.87% | N/A |
| Median 12 month | 2.9% | N/A |
| Median 3 years | 29.09% | N/A |
| Median 5 years | 69.05% | N/A |
| 10 years average annual | 4.88% | N/A |
| Weekly media advert. rent | $1500 | N/A |
| Time on Market | 77.7 days | N/A |
| Gross Rental Yield Percent | 2.2% | N/A |
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