Home Market Now Worth $8.3 Trillion As NSW Cracks $1m Mean Price Mark
It’s official, Australia’s 10.6 million residential dwellings are now worth $8,293.2 billion, with NSW emerging as a...
LIDCOMBE, 2141 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 LIDCOMBE, 2141 values up and netting property investors a capital gain of 11.37% for the past year.
Investors saw the median home price rise to $1,175,000.
Profits due to an downward trend in home prices in the suburb averaged -3.44% per annum over a 3-year period.
LIDCOMBE now ranks at the 449th 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 LIDCOMBE 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 $530 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 LIDCOMBE, homes and units usually stay on listing for an average of 36.4 days.
In 2016, 108 properties were sold in LIDCOMBE during the past year, making it the 1444th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||11.37%||11.27%|
|Median 3 years||-10.31%||-1.37%|
|Median 5 years||4.68%||20.61%|
|10 years average annual||6.72%||7.02%|
|Weekly media advert. rent||$530||$500|
|Time on Market||36.4 days||84.5 days|
|Gross Rental Yield Percent||2.35%||3.29%|