Australia is in the midst of ‘the biggest rental crisis in history’, expert says
Australia’s property market has never been more paradoxical, with intense rental pressure recorded in a majority of towns and cities, but ...
GERRINGONG, 2534 ranks 3103rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 0.48% 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 $893,000.
The upward trend in home prices in GERRINGONG, 2534 averaged 1.48% per annum over a 3-year period.
Average weekly rents on listings have reached the $550 mark, reflecting a 3.2% increase in returns based on the current median price in GERRINGONG.
An average of 5 real estate transactions take place per month in GERRINGONG which translates to 60 per annum.
60 properties were sold in GERRINGONG in 2016, making it the 269th most active market in NSW based on total real estate transactions.
GERRINGONG, 2534 places 872nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $893,000 | $665,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.62% | 2.47% |
| Median 12 month | 0.48% | 17.28% |
| Median 3 years | 4.44% | 7.26% |
| Median 5 years | 42.2% | 26.79% |
| 10 years average annual | 5.77% | 15.05% |
| Weekly media advert. rent | $550 | $470 |
| Time on Market | 49.7 days | 101.8 days |
| Gross Rental Yield Percent | 3.2% | 3.68% |
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