REIA: Consumer Price Index A ‘mixed Bag’ For Housing And Home Buyers
The All Groups consumer price index (CPI) climbed by 1.3 per cent in the December quarter of 2021 and by 3.5 per cent fo...
FAIRFIELD WEST, 2165 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 FAIRFIELD WEST, 2165 values up and netting property investors a capital gain of 19.08% for the past year.
Investors saw the median home price rise to $855,000.
Profits due to an upward trend in home prices in the suburb averaged 5.02% per annum over a 3-year period.
FAIRFIELD WEST now ranks at the 1043rd 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 FAIRFIELD WEST are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $450 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 FAIRFIELD WEST, homes and units usually stay on listing for an average of 46.7 days.
In 2016, 137 properties were sold in FAIRFIELD WEST during the past year, making it the 1263rd most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||19.08%||N/A|
|Median 3 years||15.07%||N/A|
|Median 5 years||23.91%||-2.22%|
|10 years average annual||7.82%||7.65%|
|Weekly media advert. rent||$450||$420|
|Time on Market||46.7 days||0.0 days|
|Gross Rental Yield Percent||2.74%||3.97%|