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 $671,000.
The upward trend in home prices in MARDI, 2259 averaged 12.55% per annum over a 3-year period.
Average weekly rents on listings have reached the $480 mark, reflecting a 3.72% increase in returns based on the current median price in MARDI.
An average of 6 real estate transactions take place per month in MARDI which translates to 72 per annum.
72 properties were sold in MARDI in 2016, making it the 169th 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.
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 $415,000.
Average median unit prices in NSW have risen as a whole, pulling MARDI, 2259 values up and netting property investors a capital gain of 5.06% for the past year.
Investors saw the median home price rise to $415,000.
The upward trend in home prices in MARDI, 2259 averaged 9.9% per annum over a 3-year period.
MARDI now ranks at the 444th 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 MARDI are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $390 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In MARDI, homes and units usually stay on listing for an average of 61.7 days.
14 properties were sold in MARDI in 2016, making it the 478th most active market in NSW based on total real estate transactions.
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