Rental property rarely used as retirement income tool
Only a tiny proportion of older Australians expect property income to be their main source of income in retirement, despite these people bei...
PICTON, 2571 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 $705,000.
Profits due to an upward trend in home prices in the suburb averaged 2.82% per annum over a 3-year period.
PICTON now ranks at the 120th 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 PICTON 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 $460 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 PICTON, homes and units usually stay on listing for an average of 90.1 days.
In 2016, 65 properties were sold in PICTON during the past year, making it the 205th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $705,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 5.1% | N/A |
| Median 12 month | -6.62% | N/A |
| Median 3 years | 8.46% | N/A |
| Median 5 years | 35.58% | N/A |
| 10 years average annual | 6.95% | N/A |
| Weekly media advert. rent | $460 | N/A |
| Time on Market | 90.1 days | N/A |
| Gross Rental Yield Percent | 3.39% | N/A |
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