Property Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
Property investors enjoyed capital gains of 8.92% over the last 12 months in RANKIN PARK, translating to lower returns compared with its peers in NSW.
A survey of average capital gains or median home price increase in suburbs across the country shows that the NSW suburb obtained a 6.64% growth over a ten-year period. It ranks 1438th on our list of suburbs that property investors should look into.
RANKIN PARK, 2287 has a capital gain of 8.92% for the past year, which is higher than average compared to its 40.06% growth within a five-year period.
With the median home price in RANKIN PARK sitting at $708,000, and the average rent at $540, property owners could potentially earn a 3.97% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in RANKIN PARK are high, as opposed to average gains per annum over the past five years.
RANKIN PARK, 2287 in NSW belongs to the local government area of Newcastle (C).
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.92%||N/A|
|Median 3 years||13.73%||N/A|
|Median 5 years||40.06%||N/A|
|10 years average annual||6.64%||N/A|
|Weekly media advert. rent||$540||N/A|
|Time on Market||17.5 days||N/A|
|Gross Rental Yield Percent||3.97%||N/A|