Migration cut plans set to impact property market
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Based on its average 5-year and quarterly capital gains, the suburb saw average decrease 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 $295,000.
The downward trend in home prices in AVOCA, 4670 averaged -0.25% per annum over a 3-year period.
Average weekly rents on listings have reached the $320 mark, reflecting a 5.64% increase in returns based on the current median price in AVOCA.
An average of 7 real estate transactions take place per month in AVOCA which translates to 84 per annum.
84 properties were sold in AVOCA in 2016, making it the 55th most active market in QLD based on total real estate transactions.
AVOCA, 4670 places 675th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $295,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -2.88% | N/A |
| Median 12 month | -4.38% | N/A |
| Median 3 years | -0.76% | N/A |
| Median 5 years | -4.68% | N/A |
| 10 years average annual | -0.61% | N/A |
| Weekly media advert. rent | $320 | N/A |
| Time on Market | 86.3 days | N/A |
| Gross Rental Yield Percent | 5.64% | N/A |
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