GERRINGONG, 2534 ranks 399th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 21.03% 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 stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $877,500.
The upward trend in home prices in GERRINGONG, 2534 averaged 17.98% per annum over a 3-year period.
Average weekly rents on listings have reached the $520 mark, reflecting a 3.08% increase in returns based on the current median price in GERRINGONG.
An average of 6.83 real estate transactions take place per month in GERRINGONG which translates to 82 per annum.
82 properties were sold in GERRINGONG in 2016, making it the 93rd most active market in NSW based on total real estate transactions.
GERRINGONG, 2534 places 577th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.03%||18.1%|
|Median 3 years||53.95%||32.2%|
|Median 5 years||67.14%||N/A|
|10 years average annual||6.35%||10.27%|
|Weekly media advert. rent||$520||$450|
|Time on Market||53.9 days||49.7 days|
|Gross Rental Yield Percent||3.08%||3.77%|