A 14.34% increase in median property prices in PALM COVE, 4879 has allowed this suburb to join the ranks of best performing suburbs in QLD, settling at number 84th.
A steady increase in median property prices over a five-year period in the suburb translates to a -3.04% capital gain.
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 $606,000
The augmented property values in the suburb are trailing above the territorial average of 2.39% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $547.5.
Home owners selling their properties and realtors in PALM COVE usually have to wait an average of 87.0 days days before their assets are lifted off the market.
The QLD suburb ranks 358th on the list of best yielding suburbs for rental properties in QLD, posting a 4.7% return.
It also places places 65th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 8.7% over the last 12 months in PALM COVE, 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 PALM COVE, 4879 obtained a -2.1% decrease over a ten-year period. It ranks 1656th on our list of suburbs that property investors should look into.
PALM COVE, 4879 has a capital gain of 8.7% for the past year, which is higher than average compared to its 22.55% growth within a five-year period.
With the median home price in PALM COVE sitting at $312,500, and the average rent at $322.5, property owners could potentially earn a 5.37% increase in gross rental yield.
A 8.7% increase in median property prices in PALM COVE, 4879 has allowed this suburb to join the ranks of best performing suburbs in QLD, settling at number 68th.
Figures from the previous quarter show that capital gains for real estate buyers in PALM COVE are low, as opposed to average gains per annum over the past five years.
PALM COVE, 4879 in QLD belongs to the local government area of Cairns.