‘Nonsensical’: Economist Shuts Down 10% Price Drop Talk
A big four bank’s suggestion that Australia would see a 10 per cent dip in property prices over 2023 has been promptly...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,200,000.
The upward trend in home prices in TOWRADGI, 2518 averaged 13.86% per annum over a 3-year period.
Average weekly rents on listings have reached the $550 mark, reflecting a 2.38% increase in returns based on the current median price in TOWRADGI.
An average of 3.17 real estate transactions take place per month in TOWRADGI which translates to 38 per annum.
38 properties were sold in TOWRADGI in 2016, making it the 564th most active market in NSW based on total real estate transactions.
TOWRADGI, 2518 places 49th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||43.54%||15.56%|
|Median 3 years||41.59%||N/A|
|Median 5 years||74.8%||N/A|
|10 years average annual||11.02%||16.36%|
|Weekly media advert. rent||$550||$360|
|Time on Market||29.2 days||0.0 days|
|Gross Rental Yield Percent||2.38%||2.4%|