ACT Reports Progress Of ‘Better Suburbs’
The ACT government has delivered an update on its “Better Suburbs” plan, detailing the headway that has been made to...
NARWEE, 2209 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling NARWEE, 2209 values up and netting property investors a capital gain of 16.4% for the past year.
Investors saw the median home price rise to $1,245,500.
Profits due to an upward trend in home prices in the suburb averaged 6.82% per annum over a 3-year period.
NARWEE now ranks at the 231st place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in NARWEE are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $550 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NARWEE, homes and units usually stay on listing for an average of 64.4 days.
In 2016, 42 properties were sold in NARWEE during the past year, making it the 499th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||16.4%||2.49%|
|Median 3 years||20.45%||7.69%|
|Median 5 years||17.5%||-0.88%|
|10 years average annual||7.15%||7.01%|
|Weekly media advert. rent||$550||$370|
|Time on Market||64.4 days||65.7 days|
|Gross Rental Yield Percent||2.3%||2.75%|