Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the ...
Property investors enjoyed capital gains of 4.6% over the last 12 months in PARRAMATTA PARK, translating to lower returns compared with its peers in QLD.
A survey of average capital gains or median home price increase in suburbs across the country shows that the QLD suburb obtained a 1.56% growth over a ten-year period. It ranks 3310th on our list of suburbs that property investors should look into.
PARRAMATTA PARK, 4870 has a capital gain of 4.6% for the past year, which is higher than average compared to its 0.47% growth within a five-year period.
With the median home price in PARRAMATTA PARK sitting at $432,000, and the average rent at $400, property owners could potentially earn a 4.81% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in PARRAMATTA PARK are high, as opposed to average gains per annum over the past five years.
PARRAMATTA PARK, 4870 in QLD belongs to the local government area of Cairns (R).
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $432,000 | $250,400 |
| GROWTH REPORT | ||
| Median Quarterly | 3.91% | 1.17% |
| Median 12 month | 4.6% | 8.87% |
| Median 3 years | -1.37% | 2% |
| Median 5 years | 0.47% | 2.73% |
| 10 years average annual | 1.56% | 0.16% |
| Weekly media advert. rent | $400 | $340 |
| Time on Market | 91.4 days | 49.4 days |
| Gross Rental Yield Percent | 4.81% | 7.06% |
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