Sydney and Melbourne wobble as COVID-19 sets in
Investors in Australia’s two largest cities are starting to see the impact of COVID-19, with up to a third of owners selling for less, new...
A steady increase in median property prices over a five-year period in the suburb translates to a -4.76% capital gain.
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 $1,800,000.
Profits due to an downward trend in home prices there averaged -1.59% per annum over a 3-year period.
Home owners selling their properties and realtors in CONCORD WEST usually have to wait an average of 82.8 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $752.5 mark, reflecting a 2.17% increase in returns based on the current median price in CONCORD WEST.
CONCORD WEST, 2138 places 745th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,800,000 | $1,550,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.84% | 0% |
| Median 12 month | 0% | -3.73% |
| Median 3 years | -4.76% | 73.67% |
| Median 5 years | 22.03% | 80.02% |
| 10 years average annual | 7.79% | 14.6% |
| Weekly media advert. rent | $752.5 | $430 |
| Time on Market | 82.8 days | 0.0 days |
| Gross Rental Yield Percent | 2.17% | 1.44% |
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