Surging House Prices Leading To Longer Saving Times For FHBs
Strong buyer interest, spurred on by record-low interest rates as well as below average wage growth, means it is now pre...
EMPIRE BAY, 2257 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 $790,000.
Profits due to an upward trend in home prices in the suburb averaged 2.62% per annum over a 3-year period.
EMPIRE BAY now ranks at the 1248th 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 EMPIRE BAY 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 $495 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 EMPIRE BAY, homes and units usually stay on listing for an average of 40.2 days.
In 2016, 38 properties were sold in EMPIRE BAY during the past year, making it the 549th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-3.07%||N/A|
|Median 3 years||7.85%||N/A|
|Median 5 years||27.94%||N/A|
|10 years average annual||7.34%||N/A|
|Weekly media advert. rent||$495||N/A|
|Time on Market||40.2 days||N/A|
|Gross Rental Yield Percent||3.26%||N/A|