Property market update: Melbourne, December 2018
After an unprecedented property boom, the Melbourne market started to soften in 2018—a trend further enhanced by the tightening of credit ...
AVENELL HEIGHTS, 4670 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 $244,450.
Profits due to an downward trend in home prices in the suburb averaged -2.7% per annum over a 3-year period.
AVENELL HEIGHTS now ranks at the 464th 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 AVENELL HEIGHTS are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $295 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 AVENELL HEIGHTS, homes and units usually stay on listing for an average of 67.2 days.
In 2016, 58 properties were sold in AVENELL HEIGHTS during the past year, making it the 179th most active market in QLD based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $244,450 | $222,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.22% | -0.67% |
| Median 12 month | -8.45% | -5.03% |
| Median 3 years | -8.1% | -10.3% |
| Median 5 years | -13.93% | -1.99% |
| 10 years average annual | -1.66% | -0.25% |
| Weekly media advert. rent | $295 | $260 |
| Time on Market | 67.2 days | 115.0 days |
| Gross Rental Yield Percent | 6.28% | 6.09% |
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