Property Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
Property investors enjoyed capital gains of 19.51% over the last 12 months in PENRITH, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in PENRITH are low, as opposed to average gains per annum over the past five years.
The suburb posted a 17.59% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $420 based on current median home prices for the suburb.
On average, rents on listings have reached the $420 mark, reflecting a 2.69% increase in returns based on the current median price in PENRITH.
PENRITH, 2750 ranks 779th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 700th on the list of best yielding suburbs for rental properties in NSW, posting a 2.69% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||19.51%||3.09%|
|Median 3 years||17.59%||-5.66%|
|Median 5 years||24.82%||-3.85%|
|10 years average annual||9.88%||7.46%|
|Weekly media advert. rent||$420||$400|
|Time on Market||37.0 days||56.6 days|
|Gross Rental Yield Percent||2.69%||4.16%|