‘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 weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $749,000.
The upward trend in home prices in SPRING FARM, 2570 averaged 1.83% per annum over a 3-year period.
Average weekly rents on listings have reached the $522.5 mark, reflecting a 3.63% increase in returns based on the current median price in SPRING FARM.
An average of 27 real estate transactions take place per month in SPRING FARM which translates to 324 per annum.
324 properties were sold in SPRING FARM in 2016, making it the 662nd most active market in NSW based on total real estate transactions.
SPRING FARM, 2570 places 779th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||9.74%||N/A|
|Median 3 years||5.49%||N/A|
|Median 5 years||12.79%||N/A|
|10 years average annual||6.08%||N/A|
|Weekly media advert. rent||$522.5||N/A|
|Time on Market||35.1 days||N/A|
|Gross Rental Yield Percent||3.63%||N/A|