Online shopping surge breathes new life into mundane commercial property
The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, a...
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 $690,000.
The upward trend in home prices in WOY WOY, 2256 averaged 0.22% per annum over a 3-year period.
Average weekly rents on listings have reached the $410 mark, reflecting a 3.09% increase in returns based on the current median price in WOY WOY.
An average of 11.92 real estate transactions take place per month in WOY WOY which translates to 143 per annum.
143 properties were sold in WOY WOY in 2016, making it the 1140th most active market in NSW based on total real estate transactions.
WOY WOY, 2256 places 696th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $690,000 | $519,000 |
| GROWTH REPORT | ||
| Median Quarterly | 6.4% | 3.8% |
| Median 12 month | 11.29% | 4.85% |
| Median 3 years | 0.66% | -3.44% |
| Median 5 years | 27.31% | 26.59% |
| 10 years average annual | 7.58% | 6.08% |
| Weekly media advert. rent | $410 | $400 |
| Time on Market | 53.0 days | 68.6 days |
| Gross Rental Yield Percent | 3.09% | 4.01% |
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