Property investors see reduced competition from FHBers
Recent market conditions have meant first-home buyers have had to bow out of the property game, and are expected to return by the end of 201...
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 $660,000.
The upward trend in home prices in WERRINGTON, 2747 averaged 6.67% per annum over a 3-year period.
Average weekly rents on listings have reached the $410 mark, reflecting a 3.23% increase in returns based on the current median price in WERRINGTON.
An average of 3.42 real estate transactions take place per month in WERRINGTON which translates to 41 per annum.
41 properties were sold in WERRINGTON in 2016, making it the 256th most active market in NSW based on total real estate transactions.
WERRINGTON, 2747 places 459th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $660,000 | $465,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.12% | 0% |
| Median 12 month | -0.53% | -2.62% |
| Median 3 years | 20% | 15.53% |
| Median 5 years | 92.7% | 75.5% |
| 10 years average annual | 9.55% | 6.86% |
| Weekly media advert. rent | $410 | $347.5 |
| Time on Market | 60.7 days | 46.5 days |
| Gross Rental Yield Percent | 3.23% | 3.89% |
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