Perth’s luxury property growth ranked highest in Australia
Smaller cities have outranked the major capitals for prime luxury residential real estate price growth, a new report has shown. ...
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 $685,000.
The upward trend in home prices in MARDI, 2259 averaged 1.39% per annum over a 3-year period.
Average weekly rents on listings have reached the $480 mark, reflecting a 3.64% increase in returns based on the current median price in MARDI.
An average of 4.75 real estate transactions take place per month in MARDI which translates to 57 per annum.
57 properties were sold in MARDI in 2016, making it the 303rd most active market in NSW based on total real estate transactions.
MARDI, 2259 places th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $685,000 | $432,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | 2.98% |
| Median 12 month | -0.22% | 0.58% |
| Median 3 years | 4.18% | 0.52% |
| Median 5 years | 21.24% | 21.83% |
| 10 years average annual | 6.7% | 7.27% |
| Weekly media advert. rent | $480 | N/A |
| Time on Market | 65.3 days | 0.0 days |
| Gross Rental Yield Percent | 3.64% | N/A |
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