Property Market Update: Melbourne, September 2021
Melbourne’s property market kept the ball rolling in September as the city’s dwelling values rose once more during t...
LAKE HAVEN, 2263 delivered a weaker 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 LAKE HAVEN, 2263 values up and netting property investors a capital gain of 8.43% for the past year.
Investors saw the median home price rise to $585,500.
Profits due to an upward trend in home prices in the suburb averaged 2.48% per annum over a 3-year period.
LAKE HAVEN now ranks at the 544th 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 LAKE HAVEN 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 $430 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 LAKE HAVEN, homes and units usually stay on listing for an average of 40.6 days.
In 2016, 89 properties were sold in LAKE HAVEN during the past year, making it the 57th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.43%||N/A|
|Median 3 years||7.43%||4.44%|
|Median 5 years||27.28%||18.09%|
|10 years average annual||6.81%||18.64%|
|Weekly media advert. rent||$430||$430|
|Time on Market||40.6 days||37.0 days|
|Gross Rental Yield Percent||3.82%||4.76%|