Regional town remains resilient despite COVID-19
Despite falling prices in many of Australia’s capital cities, a regional area is showing signs of growth, an industry expert has said. ...
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 $217,500.
Profits due to an downward trend in home prices there averaged -3.13% per annum over a 3-year period.
Home owners selling their properties and realtors in MERRIWA usually have to wait an average of 120.9 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $255 mark, reflecting a 6.1% increase in returns based on the current median price in MERRIWA.
MERRIWA, 2329 places 1109th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $217,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -3.97% | N/A |
| Median 12 month | -1.14% | N/A |
| Median 3 years | -9.38% | N/A |
| Median 5 years | -14.45% | N/A |
| 10 years average annual | 3.51% | N/A |
| Weekly media advert. rent | $255 | N/A |
| Time on Market | 120.9 days | N/A |
| Gross Rental Yield Percent | 6.1% | N/A |
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