Responsible lending leeway ‘put to the test’ by COVID-19
The COVID-19 crisis will bring to light the effectiveness of principles-based responsible lending guidance, according to ASIC chair James Sh...
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
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 $510,000.
The upward trend in home prices in MARION, 5043 averaged 1.72% per annum over a 3-year period.
Average weekly rents on listings have reached the $410 mark, reflecting a 4.18% increase in returns based on the current median price in MARION.
An average of 5.5 real estate transactions take place per month in MARION which translates to 66 per annum.
66 properties were sold in MARION in 2016, making it the 54th most active market in SA based on total real estate transactions.
MARION, 5043 places 63rd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $510,000 | $295,000 |
| GROWTH REPORT | ||
| Median Quarterly | 5.15% | -5.75% |
| Median 12 month | 0% | N/A |
| Median 3 years | 5.15% | N/A |
| Median 5 years | 10.87% | N/A |
| 10 years average annual | 2.6% | N/A |
| Weekly media advert. rent | $410 | $330 |
| Time on Market | 46.1 days | 101.5 days |
| Gross Rental Yield Percent | 4.18% | 5.82% |
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