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...
It 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 $297,000
The augmented property values in the suburb are trailing above the territorial average of 2.4% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $320.
Home owners selling their properties and realtors in SOUTH MACKAY usually have to wait an average of 67.8 days days before their assets are lifted off the market.
The QLD suburb ranks 119th on the list of best yielding suburbs for rental properties in QLD, posting a 5.6% return.
It also places places 520th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $297,000 | $205,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.83% | -2.38% |
| Median 12 month | 8% | 3.02% |
| Median 3 years | -1.33% | -10.48% |
| Median 5 years | -22.86% | -31.44% |
| 10 years average annual | -1.21% | -1.36% |
| Weekly media advert. rent | $320 | $250 |
| Time on Market | 67.8 days | 102.4 days |
| Gross Rental Yield Percent | 5.6% | 6.34% |
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