NAB Tips 19% Price Growth For Property In 2021
One of Australia’s biggest banks has upped their expectations for Australia’s residential housing market, tipping 19...
RYDE, 2112 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling RYDE, 2112 values up and netting property investors a capital gain of 14.09% for the past year.
Investors saw the median home price rise to $1,700,000.
Profits due to an downward trend in home prices in the suburb averaged -0.95% per annum over a 3-year period.
RYDE now ranks at the 333rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in RYDE are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $640 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In RYDE, homes and units usually stay on listing for an average of 73.2 days.
In 2016, 180 properties were sold in RYDE during the past year, making it the 1013th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||14.09%||4.9%|
|Median 3 years||-2.86%||-0.63%|
|Median 5 years||19.3%||-3.89%|
|10 years average annual||8.02%||3.34%|
|Weekly media advert. rent||$640||$450|
|Time on Market||73.2 days||59.0 days|
|Gross Rental Yield Percent||1.96%||3.28%|