Property to regain momentum following health crisis
Strong property price growth before the outbreak of COVID-19 gives investors a snapshot of what market conditions will be like once the pand...
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Property investors enjoyed capital gains of 1.16% over the last 12 months in GILLEN, translating to lower returns compared with its peers in NT.
Figures from the previous quarter show that capital gains for real estate buyers in GILLEN are high, as opposed to average gains per annum over the past five years.
The suburb posted a 4.82% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $500 based on current median home prices for the suburb.
On average, rents on listings have reached the $500 mark, reflecting a 5.98% increase in returns based on the current median price in GILLEN.
GILLEN, 870 ranks 10th in NT in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 12th on the list of best yielding suburbs for rental properties in NT, posting a 5.98% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $435,000 | $292,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | 15.61% |
| Median 12 month | 1.16% | -2.99% |
| Median 3 years | 4.82% | -8.59% |
| Median 5 years | -0.91% | -10.69% |
| 10 years average annual | 1.99% | 1.96% |
| Weekly media advert. rent | $500 | $385 |
| Time on Market | 112.1 days | 112.0 days |
| Gross Rental Yield Percent | 5.98% | 6.84% |
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