Melbourne Sees Record-breaking Growth Despite Q3 Lockdowns
Low financing costs, change in housing-type preferences due to flexible work arrangements, and government support for ow...
Property investments in PRIMBEE fare well against the rest of the country last year, registering a median home price increase of 21.54%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are high, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains PRIMBEE, 2502 saw average growth in the long term.
Real estate investors could earn a rental income of $470 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 77.5 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $790,000.
PRIMBEE ranks 620th on the list of best yielding suburbs for rental properties in NSW, posting a 3.09% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.54%||N/A|
|Median 3 years||18.35%||N/A|
|Median 5 years||28.46%||N/A|
|10 years average annual||7.94%||N/A|
|Weekly media advert. rent||$470||N/A|
|Time on Market||77.5 days||N/A|
|Gross Rental Yield Percent||3.09%||N/A|