Menangle Park Could Be The Next South Western Sydney Success Story
For buyers willing to gamble on an early-stage release in an unknown suburb, the rewards might just outweigh the risks. ...
OATLEY, 2223 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 OATLEY, 2223 values up and netting property investors a capital gain of 2.49% for the past year.
Investors saw the median home price rise to $1,624,500.
Profits due to an downward trend in home prices in the suburb averaged -2.09% per annum over a 3-year period.
OATLEY now ranks at the 772nd 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 OATLEY are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $675 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 OATLEY, homes and units usually stay on listing for an average of 62.2 days.
In 2016, 95 properties were sold in OATLEY during the past year, making it the 26th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.49%||7.4%|
|Median 3 years||-6.26%||2.77%|
|Median 5 years||15.54%||4.11%|
|10 years average annual||5.97%||6.62%|
|Weekly media advert. rent||$675||$450|
|Time on Market||62.2 days||34.3 days|
|Gross Rental Yield Percent||2.16%||2.8%|