Property Market Update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
BENOWA, 4217 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 BENOWA, 4217 values up and netting property investors a capital gain of 29.97% for the past year.
Investors saw the median home price rise to $1,210,000.
Profits due to an upward trend in home prices in the suburb averaged 12.5% per annum over a 3-year period.
BENOWA now ranks at the 402nd 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 BENOWA 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 $800 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 BENOWA, homes and units usually stay on listing for an average of 48.5 days.
In 2016, 216 properties were sold in BENOWA during the past year, making it the 603rd most active market in QLD based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||29.97%||16.78%|
|Median 3 years||37.5%||18.03%|
|Median 5 years||44.05%||18.69%|
|10 years average annual||6.96%||3.21%|
|Weekly media advert. rent||$800||$595|
|Time on Market||48.5 days||30.5 days|
|Gross Rental Yield Percent||3.44%||4.87%|