$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
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 $740,000.
The downward trend in home prices in PRESTONS, 2170 averaged -2.11% per annum over a 3-year period.
Average weekly rents on listings have reached the $527.5 mark, reflecting a 3.71% increase in returns based on the current median price in PRESTONS.
An average of 10.58 real estate transactions take place per month in PRESTONS which translates to 127 per annum.
127 properties were sold in PRESTONS in 2016, making it the 1248th most active market in NSW based on total real estate transactions.
PRESTONS, 2170 places th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $740,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | 0.68% | N/A |
| Median 3 years | -6.33% | N/A |
| Median 5 years | 10.45% | N/A |
| 10 years average annual | 5.39% | N/A |
| Weekly media advert. rent | $527.5 | N/A |
| Time on Market | 48.6 days | N/A |
| Gross Rental Yield Percent | 3.71% | N/A |
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