Office investment in Melbourne is boosting resi investment
Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
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 $1,320,000.
The upward trend in home prices in KOGARAH, 2217 averaged 10.23% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 2.56% increase in returns based on the current median price in KOGARAH.
An average of 5.17 real estate transactions take place per month in KOGARAH which translates to 62 per annum.
62 properties were sold in KOGARAH in 2016, making it the 253rd most active market in NSW based on total real estate transactions.
KOGARAH, 2217 places 1234th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,320,000 | $662,000 |
| GROWTH REPORT | ||
| Median Quarterly | -9.9% | -1.27% |
| Median 12 month | -12% | -0.45% |
| Median 3 years | 30.69% | 8.52% |
| Median 5 years | 68.15% | 36.49% |
| 10 years average annual | 8.64% | 7.14% |
| Weekly media advert. rent | $650 | $500 |
| Time on Market | 58.3 days | 51.4 days |
| Gross Rental Yield Percent | 2.56% | 3.93% |
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