Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $740,000.
The upward trend in home prices in WEST BEACH, 5024 averaged 7.98% per annum over a 3-year period.
Average weekly rents on listings have reached the $480 mark, reflecting a 3.37% increase in returns based on the current median price in WEST BEACH.
An average of 5.08 real estate transactions take place per month in WEST BEACH which translates to 61 per annum.
61 properties were sold in WEST BEACH in 2016, making it the 82nd most active market in SA based on total real estate transactions.
WEST BEACH, 5024 places 80th in Australia based on median property value growth during the quarter.
The suburb 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 $385,000.
Investors saw the median home price rise to $385,000.
The upward trend in home prices in WEST BEACH, 5024 averaged 5.26% per annum over a 3-year period.
WEST BEACH now ranks at the th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in WEST BEACH are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $280 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In WEST BEACH, homes and units usually stay on listing for an average of 67.6 days.
46 properties were sold in WEST BEACH in 2016, making it the 34th most active market in SA based on total real estate transactions.
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