ACT Reports Progress Of ‘Better Suburbs’
The ACT government has delivered an update on its “Better Suburbs” plan, detailing the headway that has been made to...
CONSTITUTION HILL, 2145 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 CONSTITUTION HILL, 2145 values up and netting property investors a capital gain of 10.83% for the past year.
Investors saw the median home price rise to $998,000.
Profits due to an upward trend in home prices in the suburb averaged 2.44% per annum over a 3-year period.
CONSTITUTION HILL now ranks at the 1024th 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 CONSTITUTION HILL 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 $460 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 CONSTITUTION HILL, homes and units usually stay on listing for an average of 48.5 days.
In 2016, 40 properties were sold in CONSTITUTION HILL during the past year, making it the 523rd most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||10.83%||N/A|
|Median 3 years||7.31%||N/A|
|Median 5 years||10.89%||N/A|
|10 years average annual||8.23%||N/A|
|Weekly media advert. rent||$460||N/A|
|Time on Market||48.5 days||N/A|
|Gross Rental Yield Percent||2.4%||N/A|