Perth’s luxury property growth ranked highest in Australia
Smaller cities have outranked the major capitals for prime luxury residential real estate price growth, a new report has shown. ...
A steady increase in median property prices over a five-year period in the suburb translates to a -3.32% capital gain.
It 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 $1,020,000
The augmented property values in the suburb are trailing above the territorial average of 3.01% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $450.
Home owners selling their properties and realtors in KENSINGTON usually have to wait an average of 90.5 days days before their assets are lifted off the market.
The SA suburb ranks 312th on the list of best yielding suburbs for rental properties in SA, posting a 2.29% return.
It also places places 218th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,020,000 | $395,000 |
| GROWTH REPORT | ||
| Median Quarterly | 8.51% | -0.38% |
| Median 12 month | 8.51% | -1.25% |
| Median 3 years | -3.32% | 0.51% |
| Median 5 years | 14.03% | 6.73% |
| 10 years average annual | 3.56% | 0.79% |
| Weekly media advert. rent | $450 | $350 |
| Time on Market | 90.5 days | 41.4 days |
| Gross Rental Yield Percent | 2.29% | 4.61% |
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