Property market update: Perth, November 2018
The Perth property market continues to show signs of positivity through record high employment levels and low residential vacancy rates, dri...
Property investors enjoyed capital gains of 10.74% over the last 12 months in SOMERTON PARK, translating to lower returns compared with its peers in SA.
Figures from the previous quarter show that capital gains for real estate buyers in SOMERTON PARK are low, as opposed to average gains per annum over the past five years.
The suburb posted a 16.82% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $487.5 based on current median home prices for the suburb.
On average, rents on listings have reached the $487.5 mark, reflecting a 2.99% increase in returns based on the current median price in SOMERTON PARK.
SOMERTON PARK, 5044 ranks 69th in SA in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 355th on the list of best yielding suburbs for rental properties in SA, posting a 2.99% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $847,500 | $401,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.74% | -1.96% |
| Median 12 month | 10.74% | -15.76% |
| Median 3 years | 16.82% | 11.7% |
| Median 5 years | 27.44% | 19.52% |
| 10 years average annual | 4.08% | 3.09% |
| Weekly media advert. rent | $487.5 | $317.5 |
| Time on Market | 57.1 days | 73.8 days |
| Gross Rental Yield Percent | 2.99% | 4.12% |
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