Australia is in the midst of ‘the biggest rental crisis in history’, expert says
Australia’s property market has never been more paradoxical, with intense rental pressure recorded in a majority of towns and cities, but ...
ERSKINE PARK, 2759 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling ERSKINE PARK, 2759 values up and netting property investors a capital gain of 3.74% for the past year.
Investors saw the median home price rise to $735,000.
Profits due to an downward trend in home prices in the suburb averaged -1.41% per annum over a 3-year period.
ERSKINE PARK now ranks at the 909th 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 ERSKINE PARK 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 $400 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 ERSKINE PARK, homes and units usually stay on listing for an average of 32.0 days.
In 2016, 51 properties were sold in ERSKINE PARK during the past year, making it the 362nd most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $735,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.41% | N/A |
| Median 12 month | 3.74% | N/A |
| Median 3 years | -4.23% | N/A |
| Median 5 years | 17.04% | N/A |
| 10 years average annual | 6.37% | N/A |
| Weekly media advert. rent | $400 | N/A |
| Time on Market | 32.0 days | N/A |
| Gross Rental Yield Percent | 2.83% | N/A |
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