Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
Homeowners and real estate investors betting on CESSNOCK, 2325 can rest assured about this NSW suburb's performance. The suburb saw median home prices rise by 35.7%.
A steady increase in median property prices over a five-year period in the suburb translates to a 37.33% capital gain.
Property investors in CESSNOCK enjoyed capital gains of 35.7% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $515,000.
Profits due to an upward trend in home prices there averaged 12.44% per annum over a 3-year period.
Home owners selling their properties and realtors in CESSNOCK usually have to wait an average of 26.5 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $400 mark, reflecting a 4.04% increase in returns based on the current median price in CESSNOCK.
CESSNOCK, 2325 places 198th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||35.7%||14.42%|
|Median 3 years||37.33%||21.14%|
|Median 5 years||68.03%||22.37%|
|10 years average annual||8.56%||4.01%|
|Weekly media advert. rent||$400||$330|
|Time on Market||26.5 days||23.5 days|
|Gross Rental Yield Percent||4.04%||4.75%|