Why buying under market value is not always a good idea
Most investors believe that sourcing a bargain property is like striking gold, but one expert explains why it could signal trouble. ...
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 $900,000.
Profits due to an upward trend in home prices in the suburb averaged 4.17% per annum over a 3-year period.
NEWMARKET now ranks at the 573rd 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 $565 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 30.1 days.
In 2016, 42 properties were sold in NEWMARKET during the past year, making it the 309th most active market in QLD based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $900,000 | $420,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0.56% | 2.81% |
| Median 12 month | -7.31% | 0.72% |
| Median 3 years | 12.5% | 7.82% |
| Median 5 years | 19.68% | -2.27% |
| 10 years average annual | 2.43% | -0.39% |
| Weekly media advert. rent | $565 | $410 |
| Time on Market | 30.1 days | 43.4 days |
| Gross Rental Yield Percent | 3.26% | 5.07% |
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