How investors should react to mortgage possessions coming soon
Analysis of data by a major bank shows that mortgage possession is looming around the corner, according to one property commentator. ...
WINGHAM, 2429 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling WINGHAM, 2429 values up and netting property investors a capital gain of 4.69% for the past year.
Investors saw the median home price rise to $335,000.
Profits due to an upward trend in home prices in the suburb averaged 6.91% per annum over a 3-year period.
WINGHAM now ranks at the 402nd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in WINGHAM are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $340 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In WINGHAM, homes and units usually stay on listing for an average of 90.9 days.
In 2016, 152 properties were sold in WINGHAM during the past year, making it the 1129th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $335,000 | $227,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0.9% | 8.33% |
| Median 12 month | 4.69% | 21.98% |
| Median 3 years | 20.72% | N/A |
| Median 5 years | 42.55% | N/A |
| 10 years average annual | 4.62% | 14.28% |
| Weekly media advert. rent | $340 | $230 |
| Time on Market | 90.9 days | 0.0 days |
| Gross Rental Yield Percent | 5.28% | 5.26% |
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