Online shopping surge breathes new life into mundane commercial property
The online shopping surge born out of the COVID-19 pandemic has breathed new life into a considerably mundane type of commercial property, a...
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 $950,000.
The upward trend in home prices in NORAH HEAD, 2263 averaged 1.85% per annum over a 3-year period.
Average weekly rents on listings have reached the $470 mark, reflecting a 2.57% increase in returns based on the current median price in NORAH HEAD.
An average of 1.75 real estate transactions take place per month in NORAH HEAD which translates to 21 per annum.
21 properties were sold in NORAH HEAD in 2016, making it the 875th most active market in NSW based on total real estate transactions.
NORAH HEAD, 2263 places 1048th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $950,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -1.04% | N/A |
| Median 12 month | 0% | N/A |
| Median 3 years | 5.56% | N/A |
| Median 5 years | 37.68% | N/A |
| 10 years average annual | 7.19% | N/A |
| Weekly media advert. rent | $470 | N/A |
| Time on Market | 59.5 days | N/A |
| Gross Rental Yield Percent | 2.57% | N/A |
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