Boosting Housing Supply Critical To Warding Off Further Price Growth: NAB
NAB’s Ross McEwan fronted the economics committee on Friday and called on the government to enact “decisive moves”...
The suburb’s capital gain of 6.16% for the past year is higher than average compared to its 6.16% growth within a five-year period.
Also in EDMONDSON PARK, the median home price is sitting at $849,250, and the average rent at $580, this suggests property owners could potentially earn a 3.55% increase in gross rental yield.
Property investors have seen a 1.71% gain in EDMONDSON PARK based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 6.21% growth over a ten-year period. It ranks 926th on our list of suburbs that property investors should look into.
Edmondson Park covers a triangular-shaped area in southwest Sydney. Famous for its military heritage, Edmondson Park was named after Wagga Wagga-born World War II hero John Hurst Edmondson, and used to be the site of the Ingleburn Army Camp. Ingleburn was the first purpose-built training ground for the Australian infantry during the Second World War.
Founding and history
Today, Edmondson’s military legacy is kept alive by memorials, restored buildings, and poles and seats in the colour of Australian army medals. A town centre that will soon rise in the suburb will also have a main street called Soldiers Parade in honour of its military past.
Situated 40 kilometres southwest of Sydney’s central business district, Edmondson Park belongs to the local government area of the City of Liverpool. It is accessible by train through the South West Rail Link of the Sydney Trains Network, bus and private car from nearby suburbs.
New developments in Edmondson Park
Edmondson Park’s real estate segment is bound for exponential growth, spurred by new real estate developments. The local council of Edmondson Park announced it is adding thousands of new homes to its enclaves, as demand for housing in the area steadily increases.
The current median house price in Edmondson Park is $814,990 based on our recent market data; however, developers and the local council maintain that more properties will be built to suit any budget. The price for rental properties also climbed by 3.99 per cent this year.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||6.16%||1.28%|
|Median 3 years||-3.38%||-2.31%|
|Median 5 years||6.16%||25.52%|
|10 years average annual||6.21%||-0.76%|
|Weekly media advert. rent||$580||$450|
|Time on Market||103.5 days||0.0 days|
|Gross Rental Yield Percent||3.55%||3.97%|