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 $509,000.
The upward trend in home prices in EAST SIDE, 870 averaged 1.87% per annum over a 3-year period.
Average weekly rents on listings have reached the $520 mark, reflecting a 5.31% increase in returns based on the current median price in EAST SIDE.
An average of 3.67 real estate transactions take place per month in EAST SIDE which translates to 44 per annum.
44 properties were sold in EAST SIDE in 2016, making it the 7th most active market in NT based on total real estate transactions.
EAST SIDE, 870 places 20th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $509,000 | $327,500 |
| GROWTH REPORT | ||
| Median Quarterly | -0.97% | 0.77% |
| Median 12 month | -0.2% | 2.75% |
| Median 3 years | 5.6% | -5.07% |
| Median 5 years | 2.41% | -0.76% |
| 10 years average annual | 6.03% | 5% |
| Weekly media advert. rent | $520 | $365 |
| Time on Market | 81.7 days | 148.3 days |
| Gross Rental Yield Percent | 5.31% | 5.8% |
There is a threshold for the land value...
Hi Ho Ping
Thank you for your comments....
You are perhaps one of the few comment...