Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $580,000.
The upward trend in home prices in ARUNDEL, 4214 averaged 7.89% per annum over a 3-year period.
Average weekly rents on listings have reached the $497.5 mark, reflecting a 4.46% increase in returns based on the current median price in ARUNDEL.
An average of 14.08 real estate transactions take place per month in ARUNDEL which translates to 169 per annum.
169 properties were sold in ARUNDEL in 2016, making it the 629th most active market in QLD based on total real estate transactions.
ARUNDEL, 4214 places 252nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $580,000 | $339,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.75% | 0.44% |
| Median 12 month | 5.94% | 1.5% |
| Median 3 years | 23.67% | 11.15% |
| Median 5 years | 28.89% | 11.15% |
| 10 years average annual | 2.67% | 2.53% |
| Weekly media advert. rent | $497.5 | $385 |
| Time on Market | 61.8 days | 78.0 days |
| Gross Rental Yield Percent | 4.46% | 5.91% |
Just a thought - would a 'pet premium'...
The property markets in Melbourne,...
There is a threshold for the land value...