Investors cautioned as property developers on the ‘hit list’
Property investors who are getting creative with developments and their self-managed superannuation funds should be wary that the regulator...
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 $760,000.
The upward trend in home prices in PRESTONS, 2170 averaged 3.92% per annum over a 3-year period.
Average weekly rents on listings have reached the $540 mark, reflecting a 3.69% increase in returns based on the current median price in PRESTONS.
An average of 12.42 real estate transactions take place per month in PRESTONS which translates to 149 per annum.
149 properties were sold in PRESTONS in 2016, making it the 1168th most active market in NSW based on total real estate transactions.
PRESTONS, 2170 places 715th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $760,000 | $625,500 |
| GROWTH REPORT | ||
| Median Quarterly | -1.62% | -33.78% |
| Median 12 month | -5% | 6.38% |
| Median 3 years | 11.76% | 25.86% |
| Median 5 years | 50.5% | N/A |
| 10 years average annual | 6.88% | 5.31% |
| Weekly media advert. rent | $540 | $500 |
| Time on Market | 63.5 days | 0.0 days |
| Gross Rental Yield Percent | 3.69% | 4.16% |
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