Menai

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 31.82% for the past year.

Investors saw the median home price rise to $1,450,000.

Profits due to an upward trend in home prices in the suburb averaged 14.05% per annum over a 3-year period.

MENAI now ranks at the 300th 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 high, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $747.5 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 22.6 days.

In 2016, 111 properties were sold in MENAI during the past year, making it the 1444th most active market in NSW based on total real estate transactions.