Housing market reached turning point mid-2019
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GRENFELL, 2810 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 $230,000.
Profits due to an upward trend in home prices in the suburb averaged 13.85% per annum over a 3-year period.
GRENFELL now ranks at the 10th 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 GRENFELL are high, as opposed to average gains per annum over the past five years.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In GRENFELL, homes and units usually stay on listing for an average of 105.0 days.
In 2016, 33 properties were sold in GRENFELL during the past year, making it the 586th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $230,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 28.49% | N/A |
| Median 12 month | 37.31% | N/A |
| Median 3 years | 41.54% | N/A |
| Median 5 years | 31.43% | N/A |
| 10 years average annual | 7.77% | N/A |
| Weekly media advert. rent | N/A | N/A |
| Time on Market | 105.0 days | N/A |
| Gross Rental Yield Percent | N/A | N/A |
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