Capital city house prices reach record high in December
Hobart is no longer the most affordable capital city in Australia to purchase a house, following double-digit growth in December. ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also 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 $935,000.
The upward trend in home prices in COORPAROO, 4151 averaged 3.16% per annum over a 3-year period.
Average weekly rents on listings have reached the $520 mark, reflecting a 2.89% increase in returns based on the current median price in COORPAROO.
An average of 16.58 real estate transactions take place per month in COORPAROO which translates to 199 per annum.
199 properties were sold in COORPAROO in 2016, making it the 581st most active market in QLD based on total real estate transactions.
COORPAROO, 4151 places 690th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $935,000 | $385,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.71% | 1.32% |
| Median 12 month | 3.89% | 4.9% |
| Median 3 years | 9.48% | -1.28% |
| Median 5 years | 23.43% | -5.39% |
| 10 years average annual | 3.54% | 0.42% |
| Weekly media advert. rent | $520 | $377.5 |
| Time on Market | 56.3 days | 50.8 days |
| Gross Rental Yield Percent | 2.89% | 5.1% |
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