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The Commonwealth Bank has revised its property price forecast for 2021 on the back of strong growth in February and Marc...
NORMAN PARK, 4170 delivered a stronger 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 NORMAN PARK, 4170 values up and netting property investors a capital gain of 11.29% for the past year.
Investors saw the median home price rise to $1,010,000.
Profits due to an upward trend in home prices in the suburb averaged 6.04% per annum over a 3-year period.
NORMAN PARK now ranks at the 150th 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 NORMAN PARK are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $600 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 NORMAN PARK, homes and units usually stay on listing for an average of 56.3 days.
In 2016, 111 properties were sold in NORMAN PARK during the past year, making it the 912th most active market in QLD based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||11.29%||13.76%|
|Median 3 years||18.13%||17.01%|
|Median 5 years||23.17%||10.02%|
|10 years average annual||4.29%||2.08%|
|Weekly media advert. rent||$600||$400|
|Time on Market||56.3 days||103.1 days|
|Gross Rental Yield Percent||3.09%||3.83%|