Auction ban drives up withdrawal rates
The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...
TURA BEACH, 2548 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $590,000.
Profits due to an upward trend in home prices in the suburb averaged 8.51% per annum over a 3-year period.
TURA BEACH now ranks at the 816th 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 TURA BEACH 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 $450 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 TURA BEACH, homes and units usually stay on listing for an average of 108.7 days.
In 2016, 61 properties were sold in TURA BEACH during the past year, making it the 251st most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $590,000 | $447,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.42% | 7.07% |
| Median 12 month | 2.61% | 1.13% |
| Median 3 years | 25.53% | 32.05% |
| Median 5 years | 43.9% | 34.03% |
| 10 years average annual | 5.04% | 7.13% |
| Weekly media advert. rent | $450 | $350 |
| Time on Market | 108.7 days | 59.9 days |
| Gross Rental Yield Percent | 3.97% | 4.07% |
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