Property to regain momentum following health crisis
Strong property price growth before the outbreak of COVID-19 gives investors a snapshot of what market conditions will be like once the pand...
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $630,000.
The upward trend in home prices in WOY WOY, 2256 averaged 2.81% per annum over a 3-year period.
Average weekly rents on listings have reached the $425 mark, reflecting a 3.51% increase in returns based on the current median price in WOY WOY.
An average of 11.33 real estate transactions take place per month in WOY WOY which translates to 136 per annum.
136 properties were sold in WOY WOY in 2016, making it the 1134th most active market in NSW based on total real estate transactions.
WOY WOY, 2256 places 657th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $630,000 | $485,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.8% | -1.02% |
| Median 12 month | -7.01% | -10.19% |
| Median 3 years | 8.43% | -3% |
| Median 5 years | 40.78% | 24.36% |
| 10 years average annual | 7.35% | 5.58% |
| Weekly media advert. rent | $425 | $400 |
| Time on Market | 73.6 days | 90.3 days |
| Gross Rental Yield Percent | 3.51% | 4.29% |
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