When will house prices rise? A new report reveals all
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Property investors enjoyed capital gains of 7.69% over the last 12 months in NORTH MACKAY, translating to lower returns compared with its peers in QLD.
Figures from the previous quarter show that capital gains for real estate buyers in NORTH MACKAY are high, as opposed to average gains per annum over the past five years.
The suburb posted a 3.7% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $350 based on current median home prices for the suburb.
On average, rents on listings have reached the $350 mark, reflecting a 6.5% increase in returns based on the current median price in NORTH MACKAY.
NORTH MACKAY, 4740 ranks 161st in QLD in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 56th on the list of best yielding suburbs for rental properties in QLD, posting a 6.5% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $280,000 | $130,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | -1.89% |
| Median 12 month | 7.69% | -17.72% |
| Median 3 years | 3.7% | N/A |
| Median 5 years | -25.33% | -45.83% |
| 10 years average annual | -0.98% | -1.83% |
| Weekly media advert. rent | $350 | $240 |
| Time on Market | 64.1 days | 125.6 days |
| Gross Rental Yield Percent | 6.5% | 9.6% |
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