Falling loan deferrals prove market recovery: REIA
The reduction in loan deferral defies doom and gloom forecasts in the property market, the Real Estate Industry of Australia has said. ...
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 $1,800,000.
The upward trend in home prices in THE HILL, 2300 averaged 3.42% per annum over a 3-year period.
Average weekly rents on listings have reached the $750 mark, reflecting a 2.17% increase in returns based on the current median price in THE HILL.
An average of 1.67 real estate transactions take place per month in THE HILL which translates to 20 per annum.
20 properties were sold in THE HILL in 2016, making it the 900th most active market in NSW based on total real estate transactions.
THE HILL, 2300 places 1071st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,800,000 | $573,500 |
| GROWTH REPORT | ||
| Median Quarterly | -2.7% | 2.41% |
| Median 12 month | N/A | 2.41% |
| Median 3 years | 10.26% | 14.02% |
| Median 5 years | 58.94% | 41.6% |
| 10 years average annual | 11.71% | 7.66% |
| Weekly media advert. rent | $750 | $370 |
| Time on Market | 0.0 days | 68.1 days |
| Gross Rental Yield Percent | 2.17% | 3.35% |
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