REIA: Consumer Price Index A ‘mixed Bag’ For Housing And Home Buyers
The All Groups consumer price index (CPI) climbed by 1.3 per cent in the December quarter of 2021 and by 3.5 per cent fo...
A steady increase in median property prices over a five-year period in the suburb translates to a 29.79% capital gain.
It 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 $915,000
The augmented property values in the suburb are trailing above the territorial average of 18.67% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $550.
Home owners selling their properties and realtors in GLENNING VALLEY usually have to wait an average of 40.5 days days before their assets are lifted off the market.
The NSW suburb ranks 530th on the list of best yielding suburbs for rental properties in NSW, posting a 3.13% return.
It also places places 908th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||24.49%||N/A|
|Median 3 years||29.79%||N/A|
|Median 5 years||43.53%||N/A|
|10 years average annual||8.45%||N/A|
|Weekly media advert. rent||$550||N/A|
|Time on Market||40.5 days||N/A|
|Gross Rental Yield Percent||3.13%||N/A|