RBA bearish on investment outlook
The Reserve Bank of Australia has revised its outlook for dwelling investment as the second lockdown in Victoria is likely to have sharper d...
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 $482,500.
The downward trend in home prices in DIAMOND BEACH, 2430 averaged -1.8% per annum over a 3-year period.
Average weekly rents on listings have reached the $395 mark, reflecting a 4.26% increase in returns based on the current median price in DIAMOND BEACH.
An average of 1.83 real estate transactions take place per month in DIAMOND BEACH which translates to 22 per annum.
22 properties were sold in DIAMOND BEACH in 2016, making it the 820th most active market in NSW based on total real estate transactions.
DIAMOND BEACH, 2430 places 228th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $482,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 4.89% | N/A |
| Median 12 month | 3.76% | N/A |
| Median 3 years | -5.39% | N/A |
| Median 5 years | 32.19% | N/A |
| 10 years average annual | 4.88% | N/A |
| Weekly media advert. rent | $395 | N/A |
| Time on Market | 158.3 days | N/A |
| Gross Rental Yield Percent | 4.26% | N/A |
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