Hot Property: The biggest stories this week
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CHERMSIDE WEST, 4032 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in QLD have risen as a whole, pulling CHERMSIDE WEST, 4032 values up and netting property investors a capital gain of 7.78% for the past year.
Investors saw the median home price rise to $630,500.
Profits due to an upward trend in home prices in the suburb averaged 4.03% per annum over a 3-year period.
CHERMSIDE WEST now ranks at the 316th 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 CHERMSIDE WEST 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 $465 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 CHERMSIDE WEST, homes and units usually stay on listing for an average of 37.0 days.
In 2016, 114 properties were sold in CHERMSIDE WEST during the past year, making it the 847th most active market in QLD based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $630,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 2.11% | N/A |
| Median 12 month | 7.78% | N/A |
| Median 3 years | 12.09% | N/A |
| Median 5 years | 20.1% | N/A |
| 10 years average annual | 3.27% | N/A |
| Weekly media advert. rent | $465 | N/A |
| Time on Market | 37.0 days | N/A |
| Gross Rental Yield Percent | 3.84% | N/A |
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