NAB Tips 19% Price Growth For Property In 2021
One of Australia’s biggest banks has upped their expectations for Australia’s residential housing market, tipping 19...
A steady increase in median property prices over a five-year period in the suburb translates to a -2.5% capital gain.
Property investors in BANKSTOWN enjoyed capital gains of 3.17% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $975,000.
Profits due to an downward trend in home prices there averaged -0.83% per annum over a 3-year period.
Home owners selling their properties and realtors in BANKSTOWN usually have to wait an average of 88.3 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $500 mark, reflecting a 2.67% increase in returns based on the current median price in BANKSTOWN.
BANKSTOWN, 2200 places 604th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3.17%||1.77%|
|Median 3 years||-2.5%||-3.13%|
|Median 5 years||10.8%||-2.75%|
|10 years average annual||6.65%||5.49%|
|Weekly media advert. rent||$500||$400|
|Time on Market||88.3 days||62.6 days|
|Gross Rental Yield Percent||2.67%||4.13%|