10 areas where property prices are falling
New research has identified the top 10 areas recording the greatest change in dwelling market values from 31 March to 31 May. ...
A steady increase in median property prices over a five-year period in the suburb translates to a 16.98% capital gain.
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 $367,600.
Profits due to an upward trend in home prices there averaged 5.66% per annum over a 3-year period.
Home owners selling their properties and realtors in CESSNOCK usually have to wait an average of 96.1 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $350 mark, reflecting a 4.95% increase in returns based on the current median price in CESSNOCK.
CESSNOCK, 2325 places 917th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-3.26%||3.19%|
|Median 3 years||16.98%||4.24%|
|Median 5 years||33.67%||-16.67%|
|10 years average annual||5.42%||2.76%|
|Weekly media advert. rent||$350||$300|
|Time on Market||96.1 days||91.1 days|
|Gross Rental Yield Percent||4.95%||5.07%|
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