Parkes

POSTAL CODE: NSW, 2870

HOUSE

UNIT

Property investments in PARKES did not fare well against the rest of the country last year, registering a median home price decrease of 5.84%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains PARKES, 2870 saw average growth in the long term.

Real estate investors could earn a rental income of $450 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 68.7 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $480,000.

PARKES ranks 59th on the list of best yielding suburbs for rental properties in NSW, posting a 4.88% return.

Based on its average 5-year and quarterly capital gains PARKES, 2870 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in PARKES, 2870 averaged 0% per annum over a 3-year period.

Average weekly rents on listings have reached the $310 mark, reflecting a 4.04% increase in returns based on the current median price in PARKES.

An average of 1.67 real estate transactions take place per month in PARKES which translates to 20 per annum.

20 properties were sold in PARKES during the past year, making it the 379th most active market in NSW based on total real estate transactions.

PARKES, 2870 places 367th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$480,000	$399,000
Growth Report
Median Quarterly	3.78%	-0.75%
Median 12 month	5.84%	-16.88%
Median 3 years	13.21%	0%
Median 5 years	53.11%	0%
10 years average annual	7.09%	8.23%
Weekly media advert. rent	$450	$310
Time on Market	68.7 days	106 days
Gross Rental Yield Percent	4.88%	4.04%

Demographics (Median Values)*

Total Population 12042

Weekly Household Income 1154

Household Size 2.50

Average Age 39

Monthly Loan Repayment 1300

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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