Markets In A ‘sound’ State Despite Shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
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 28.93% for the past year.
Investors saw the median home price rise to $2,050,000.
Profits due to an upward trend in home prices in the suburb averaged 8.08% per annum over a 3-year period.
OATLEY now ranks at the 1000th 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 $670 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 34.6 days.
In 2016, 117 properties were sold in OATLEY during the past year, making it the 1427th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||28.93%||5.07%|
|Median 3 years||24.24%||7.98%|
|Median 5 years||28.13%||8.64%|
|10 years average annual||9.11%||6.73%|
|Weekly media advert. rent||$670||$450|
|Time on Market||34.6 days||32.6 days|
|Gross Rental Yield Percent||1.7%||2.66%|