Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
Property investors enjoyed capital gains of 23.75% over the last 12 months in MITCHELTON, translating to lower returns compared with its peers in QLD.
Figures from the previous quarter show that capital gains for real estate buyers in MITCHELTON are low, as opposed to average gains per annum over the past five years.
The suburb posted a 31.06% growth in median prices over a three-year period. This is considerably lower 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 3.01% increase in returns based on the current median price in MITCHELTON.
MITCHELTON, 4053 ranks 422nd in QLD in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 638th on the list of best yielding suburbs for rental properties in QLD, posting a 3.01% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.75%||5.78%|
|Median 3 years||31.06%||-0.18%|
|Median 5 years||38.4%||-3.24%|
|10 years average annual||6.03%||2.61%|
|Weekly media advert. rent||$500||$415|
|Time on Market||27.6 days||60.7 days|
|Gross Rental Yield Percent||3.01%||5.07%|