Property Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
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 $837,500.
The upward trend in home prices in WOODPARK, 2164 averaged 2.8% per annum over a 3-year period.
Average weekly rents on listings have reached the $440 mark, reflecting a 2.73% increase in returns based on the current median price in WOODPARK.
An average of 1.17 real estate transactions take place per month in WOODPARK which translates to 14 per annum.
14 properties were sold in WOODPARK in 2016, making it the 1238th most active market in NSW based on total real estate transactions.
WOODPARK, 2164 places 999th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||11.67%||N/A|
|Median 3 years||8.41%||N/A|
|Median 5 years||19.22%||N/A|
|10 years average annual||7.85%||N/A|
|Weekly media advert. rent||$440||N/A|
|Time on Market||0.0 days||N/A|
|Gross Rental Yield Percent||2.73%||N/A|