How investors should react to mortgage possessions coming soon
Analysis of data by a major bank shows that mortgage possession is looming around the corner, according to one property commentator. ...
A steady increase in median property prices over a five-year period in the suburb translates to a -21.48% 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 $550,000
The augmented property values in the suburb are trailing behind the territorial average of 1.87% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $600.
Home owners selling their properties and realtors in PALM COVE usually have to wait an average of 91.3 days days before their assets are lifted off the market.
The QLD suburb ranks 141st on the list of best yielding suburbs for rental properties in QLD, posting a 5.67% return.
It also places places 471st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $550,000 | $327,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.45% | 0.62% |
| Median 12 month | -5.98% | 10.85% |
| Median 3 years | -21.48% | 20.33% |
| Median 5 years | 5.26% | 29.76% |
| 10 years average annual | 1.65% | -1.5% |
| Weekly media advert. rent | $600 | $340 |
| Time on Market | 91.3 days | 102.9 days |
| Gross Rental Yield Percent | 5.67% | 5.41% |
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