MENAI, 2234 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 MENAI, 2234 values up and netting property investors a capital gain of 0.96% for the past year.
Investors saw the median home price rise to $1,050,000.
Profits due to an upward trend in home prices in the suburb averaged 8.14% per annum over a 3-year period.
MENAI now ranks at the 1125th 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 MENAI 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 MENAI, homes and units usually stay on listing for an average of 42.1 days.
In 2016, 119 properties were sold in MENAI during the past year, making it the 1331st most active market in NSW based on total real estate transactions.
MENAI ranks 389th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
MENAI, 2234 has a capital gain of 1.11% for the past year, which is lower than average compared to its 51.96% growth within a five-year period.
With the median home price in MENAI sitting at $775,000, and the average rent at $545, property owners could potentially earn a 3.66% increase in gross rental yield.
Property investors have seen a -1.27% drop in MENAI based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that MENAI, 2234 obtained a 7.14% growth over a ten-year period. It ranks 329th on our list of suburbs that property investors should look into.