Property Market Update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
KURRALTA PARK, 5037 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in SA have risen as a whole, pulling KURRALTA PARK, 5037 values up and netting property investors a capital gain of 24.15% for the past year.
Investors saw the median home price rise to $658,000.
Profits due to an upward trend in home prices in the suburb averaged 3.84% per annum over a 3-year period.
KURRALTA PARK now ranks at the 17th 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 KURRALTA PARK are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $495 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In KURRALTA PARK, homes and units usually stay on listing for an average of 51.8 days.
In 2016, 49 properties were sold in KURRALTA PARK during the past year, making it the 146th most active market in SA based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||24.15%||-26.18%|
|Median 3 years||11.53%||-19.7%|
|Median 5 years||33.6%||5.16%|
|10 years average annual||4.65%||5.22%|
|Weekly media advert. rent||$495||$300|
|Time on Market||51.8 days||61.4 days|
|Gross Rental Yield Percent||3.91%||4.71%|