Unit rentals break 15-year record
Unit rental yields have had their biggest drop in more than 15 years, with COVID-19 seeing landlords reduce rates, according to latest resea...
Property investors have seen a -2.09% drop in SURFERS PARADISE based on a decrease in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains SURFERS PARADISE, 4217 saw average growth in the long term.
The QLD 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 $1,290,000
Profits averaged -2.45% per annum over a 3-year period, due to an downward trend in home prices in SURFERS PARADISE, 4217.
This means, real estate investors could earn a rental income of $820 based on current median home prices for the suburb.
The gross rental yield in SURFERS PARADISE, 4217 is 3.31%.
An average of 9.58 real estate transactions take place per month in SURFERS PARADISE which translates to 115 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,290,000 | $377,250 |
| GROWTH REPORT | ||
| Median Quarterly | -2.09% | 1.41% |
| Median 12 month | 1.57% | 0.6% |
| Median 3 years | -7.36% | -1.24% |
| Median 5 years | 8.63% | 10.96% |
| 10 years average annual | 0.19% | 0.55% |
| Weekly media advert. rent | $820 | $420 |
| Time on Market | 92.6 days | 99.3 days |
| Gross Rental Yield Percent | 3.31% | 5.79% |
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