Stability paving the way for property market gains
The housing market’s continual strength cannot be discounted despite the national property market’s recent dive to its largest value lo...
SHELLHARBOUR, 2529 delivered a stronger 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 SHELLHARBOUR, 2529 values up and netting property investors a capital gain of 1.31% for the past year.
Investors saw the median home price rise to $851,000.
Profits due to an upward trend in home prices in the suburb averaged 9.13% per annum over a 3-year period.
SHELLHARBOUR now ranks at the 1226th 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 SHELLHARBOUR 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 $530 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 SHELLHARBOUR, homes and units usually stay on listing for an average of 70.2 days.
In 2016, 50 properties were sold in SHELLHARBOUR during the past year, making it the 394th most active market in NSW based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||1.31%||5.94%|
|Median 3 years||27.4%||30.34%|
|Median 5 years||62.1%||74.44%|
|10 years average annual||7.35%||6.5%|
|Weekly media advert. rent||$530||$430|
|Time on Market||70.2 days||77.2 days|
|Gross Rental Yield Percent||3.24%||3.86%|
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