Property Market Update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Property investors have seen a -2.88% drop in TURRELLA based on a decrease in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains TURRELLA, 2205 saw average growth in the long term.
The NSW 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 $1,515,000
Profits averaged 13.86% per annum over a 3-year period, due to an upward trend in home prices in TURRELLA, 2205.
This means, real estate investors could earn a rental income of $537.5 based on current median home prices for the suburb.
The gross rental yield in TURRELLA, 2205 is 1.84%.
An average of 1.42 real estate transactions take place per month in TURRELLA which translates to 17 per annum.
Turrella is a suburb in NSW that’s on the government’s list of high priority precincts for development. In a few years’ time, Turella will be the site of high-rise residential properties, lifestyle blocks and recreational spaces that will cater to its incoming residents. It is expected that about 30,000 homes will be added to Turella. Some industrial facilities are located at its periphery.
Getting around Turrella
Turrella is just a stone's throw away from all the happenings in Newtown and is a 15-minute drive away from surrounding suburbs such as Arncliffe, Wolli Creek, and Bardwell Park. Turrella has an efficient transport link and its own train station and is accessible from major highways, situated 10 kilometres from Sydney Airport.
Real estate activities
Home listings in Turrella include a mix of apartments or multi-family properties and homes. With construction for new developments staged to begin in the near future, Turrella is expected to become more expensive for buyers who want easy access to Sydney’s central business district. The current median price of homes in Turrella is $1 million, while units sell at $700,000. These prices reflect an over 50 per cent increase and 20 per cent increase over the past five years.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||-3.24%|
|Median 3 years||41.59%||-5.28%|
|Median 5 years||41.79%||-5.28%|
|10 years average annual||6.33%||1.75%|
|Weekly media advert. rent||$537.5||$500|
|Time on Market||0.0 days||59.8 days|
|Gross Rental Yield Percent||1.84%||3.87%|