Hot Property: The biggest stories this week
Melbourne’s reopening has been met with plenty of property fanfare: Here are the biggest property stories from this week. ...
EMPIRE BAY, 2257 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 EMPIRE BAY, 2257 values up and netting property investors a capital gain of 24.68% for the past year.
Investors saw the median home price rise to $960,000.
Profits due to an upward trend in home prices in the suburb averaged 14.52% per annum over a 3-year period.
EMPIRE BAY now ranks at the 7th 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 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 $452.5 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 EMPIRE BAY, homes and units usually stay on listing for an average of 70.0 days.
In 2016, 27 properties were sold in EMPIRE BAY during the past year, making it the 711th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $960,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 24.68% | N/A |
| Median 12 month | 24.68% | N/A |
| Median 3 years | 43.55% | N/A |
| Median 5 years | 61.34% | N/A |
| 10 years average annual | 8.86% | N/A |
| Weekly media advert. rent | $452.5 | N/A |
| Time on Market | 70.0 days | N/A |
| Gross Rental Yield Percent | 2.45% | N/A |
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