House prices see largest price drop for last 7 years
A property institute has claimed house prices have seen their largest drop since December 2011, giving buyers the opportunity to add to thei...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $472,500.
The upward trend in home prices in EAST MAITLAND, 2323 averaged 8.44% per annum over a 3-year period.
Average weekly rents on listings have reached the $385 mark, reflecting a 4.24% increase in returns based on the current median price in EAST MAITLAND.
An average of 16.58 real estate transactions take place per month in EAST MAITLAND which translates to 199 per annum.
199 properties were sold in EAST MAITLAND in 2016, making it the 935th most active market in NSW based on total real estate transactions.
EAST MAITLAND, 2323 places 484th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $472,500 | $327,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.07% | -0.46% |
| Median 12 month | 12.5% | 9.73% |
| Median 3 years | 25.33% | 13.54% |
| Median 5 years | 30.89% | 15.14% |
| 10 years average annual | 4.69% | 2.66% |
| Weekly media advert. rent | $385 | $320 |
| Time on Market | 38.2 days | 58.6 days |
| Gross Rental Yield Percent | 4.24% | 5.09% |
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