NEWMARKET, 4051 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $806,750.
Profits due to an upward trend in home prices in the suburb averaged 2.52% per annum over a 3-year period.
NEWMARKET now ranks at the 403rd 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 NEWMARKET 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 $495 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 NEWMARKET, homes and units usually stay on listing for an average of 51.8 days.
In 2016, 42 properties were sold in NEWMARKET during the past year, making it the 292nd most active market in QLD based on total real estate transactions.
NEWMARKET ranks 245th in QLD when it comes to estimated capital gains experienced by property investors over the past three years.
NEWMARKET, 4051 has a capital gain of -17.84% for the past year, which is lower than average compared to its 1.23% growth within a five-year period.
With the median home price in NEWMARKET sitting at $410,000, and the average rent at $390, property owners could potentially earn a 4.95% increase in gross rental yield.
Property investors have seen a -5.75% drop in NEWMARKET based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that NEWMARKET, 4051 obtained a 2.3% growth over a ten-year period. It ranks 1221st on our list of suburbs that property investors should look into.