Auction ban drives up withdrawal rates
The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...
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 $1,900,000.
The upward trend in home prices in THE HILL, 2300 averaged 18.16% per annum over a 3-year period.
Average weekly rents on listings have reached the $695 mark, reflecting a 1.9% increase in returns based on the current median price in THE HILL.
An average of 1.08 real estate transactions take place per month in THE HILL which translates to 13 per annum.
13 properties were sold in THE HILL in 2016, making it the 1154th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,900,000 | $575,000 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | 2.68% |
| Median 12 month | N/A | 19.79% |
| Median 3 years | 54.47% | 23.66% |
| Median 5 years | 74.71% | 42.86% |
| 10 years average annual | 10.82% | 7.49% |
| Weekly media advert. rent | $695 | $380 |
| Time on Market | 0.0 days | 80.5 days |
| Gross Rental Yield Percent | 1.9% | 3.44% |
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