Migration cut plans set to impact property market
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LAKE HEIGHTS, 2502 ranks 2490th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 1.77% for property investors.
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 $575,000.
The upward trend in home prices in LAKE HEIGHTS, 2502 averaged 13.41% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 4.07% increase in returns based on the current median price in LAKE HEIGHTS.
An average of 5.17 real estate transactions take place per month in LAKE HEIGHTS which translates to 62 per annum.
62 properties were sold in LAKE HEIGHTS in 2016, making it the 257th most active market in NSW based on total real estate transactions.
LAKE HEIGHTS, 2502 places 652nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $575,000 | $585,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.09% | 5.41% |
| Median 12 month | 1.77% | 24.47% |
| Median 3 years | 40.24% | 32.5% |
| Median 5 years | 75.57% | N/A |
| 10 years average annual | 7.58% | 10.35% |
| Weekly media advert. rent | $450 | $495 |
| Time on Market | 63.8 days | 0.0 days |
| Gross Rental Yield Percent | 4.07% | 4.4% |
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