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 4.55% for the past year.
Investors saw the median home price rise to $920,000.
Profits due to an upward trend in home prices in the suburb averaged 7.83% per annum over a 3-year period.
NORMAN PARK now ranks at the 60th 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 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 $537.5 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 75.6 days.
In 2016, 110 properties were sold in NORMAN PARK during the past year, making it the 847th most active market in QLD based on total real estate transactions.
NORMAN PARK ranks 338th in QLD when it comes to estimated capital gains experienced by property investors over the past three years.
NORMAN PARK, 4170 has a capital gain of -22.37% for the past year, which is lower than average compared to its 3.33% growth within a five-year period.
With the median home price in NORMAN PARK sitting at $465,000, and the average rent at $420, property owners could potentially earn a 4.7% increase in gross rental yield.
Property investors have seen a -6.16% drop in NORMAN PARK 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 NORMAN PARK, 4170 obtained a 0.66% growth over a ten-year period. It ranks 1538th on our list of suburbs that property investors should look into.