Metro Melbourne Surpasses $1m Mark For The First Time
While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, re...
KAREELA, 2232 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 KAREELA, 2232 values up and netting property investors a capital gain of 14.81% for the past year.
Investors saw the median home price rise to $1,225,000.
Profits due to an upward trend in home prices in the suburb averaged 0.69% per annum over a 3-year period.
KAREELA now ranks at the 660th 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 KAREELA are low, as opposed to average gains per annum over the past five years.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In KAREELA, homes and units usually stay on listing for an average of 32.8 days.
In 2016, 54 properties were sold in KAREELA during the past year, making it the 322nd most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||14.81%||N/A|
|Median 3 years||2.08%||N/A|
|Median 5 years||11.36%||N/A|
|10 years average annual||5.89%||N/A|
|Weekly media advert. rent||N/A||N/A|
|Time on Market||32.8 days||N/A|
|Gross Rental Yield Percent||N/A||N/A|