SPEERS POINT, 2284 delivered a stronger 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 SPEERS POINT, 2284 values up and netting property investors a capital gain of 14.91% for the past year.
Investors saw the median home price rise to $666,500.
Profits due to an upward trend in home prices in the suburb averaged 9.39% per annum over a 3-year period.
SPEERS POINT now ranks at the 342nd 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 SPEERS POINT are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $420 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 SPEERS POINT, homes and units usually stay on listing for an average of 56.9 days.
In 2016, 70 properties were sold in SPEERS POINT during the past year, making it the 187th most active market in NSW based on total real estate transactions.
SPEERS POINT ranks 520th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
SPEERS POINT, 2284 has a capital gain of 19.9% for the past year, which is higher than average compared to its 70.07% growth within a five-year period.
SPEERS POINT, 2284 ranks 164th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 19.9% for property investors last year.
With the median home price in SPEERS POINT sitting at $500,000, and the average rent at $430, property owners could potentially earn a 4.47% increase in gross rental yield.
Homeowners and real estate investors betting on SPEERS POINT, 2284 can rest assured about this NSW suburb's performance. The suburb saw median home prices rise by 19.9%.
A survey of average capital gains or median home price increase in suburbs across the country shows that SPEERS POINT, 2284 obtained a 7.56% growth over a ten-year period. It ranks 217th on our list of suburbs that property investors should look into.