House prices see largest price drop for last 7 years
A property institute has claimed house prices have seen their largest drop since December 2011, giving buyers the opportunity to add to thei...
A steady increase in median property prices over a five-year period in the suburb translates to a 5.14% capital gain.
Property investors in URRAWEEN enjoyed capital gains of 0.55% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $368,000.
Profits due to an upward trend in home prices there averaged 1.71% per annum over a 3-year period.
Home owners selling their properties and realtors in URRAWEEN usually have to wait an average of 104.3 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $370 mark, reflecting a 5.23% increase in returns based on the current median price in URRAWEEN.
URRAWEEN, 4655 places 368th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $368,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.68% | N/A |
| Median 12 month | 0.55% | N/A |
| Median 3 years | 5.14% | N/A |
| Median 5 years | 8.91% | N/A |
| 10 years average annual | 0.52% | N/A |
| Weekly media advert. rent | $370 | N/A |
| Time on Market | 104.3 days | N/A |
| Gross Rental Yield Percent | 5.23% | N/A |
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