How to avoid buying overvalued properties
As stock levels continue to remain low and first-time buyers rush the market, it is becoming increasingly difficult for property investors t...
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 $556,000.
Investors saw the median home price rise to $556,000.
The upward trend in home prices in THE HILL, 2300 averaged 8.31% per annum over a 3-year period.
THE HILL now ranks at the 24th 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 THE HILL are high, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $380 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In THE HILL, homes and units usually stay on listing for an average of 82.1 days.
31 properties were sold in THE HILL in 2016, making it the 179th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | N/A | $556,000 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | 8.17% |
| Median 12 month | N/A | 15.23% |
| Median 3 years | N/A | 24.94% |
| Median 5 years | N/A | 34.79% |
| 10 years average annual | N/A | 7.39% |
| Weekly media advert. rent | N/A | $380 |
| Time on Market | N/A | 82.1 days |
| Gross Rental Yield Percent | N/A | 3.55% |
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