Falling loan deferrals prove market recovery: REIA
The reduction in loan deferral defies doom and gloom forecasts in the property market, the Real Estate Industry of Australia has said. ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $862,500.
The downward trend in home prices in COPACABANA, 2251 averaged -1.03% per annum over a 3-year period.
Average weekly rents on listings have reached the $600 mark, reflecting a 3.62% increase in returns based on the current median price in COPACABANA.
An average of 3.67 real estate transactions take place per month in COPACABANA which translates to 44 per annum.
44 properties were sold in COPACABANA in 2016, making it the 445th most active market in NSW based on total real estate transactions.
COPACABANA, 2251 places 1001st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $862,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -1.43% | N/A |
| Median 12 month | -7.11% | N/A |
| Median 3 years | -3.09% | N/A |
| Median 5 years | 31.68% | N/A |
| 10 years average annual | 4.29% | N/A |
| Weekly media advert. rent | $600 | N/A |
| Time on Market | 93.9 days | N/A |
| Gross Rental Yield Percent | 3.62% | N/A |
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