Property to regain momentum following health crisis
Strong property price growth before the outbreak of COVID-19 gives investors a snapshot of what market conditions will be like once the pand...
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Property investors enjoyed capital gains of 12.24% over the last 12 months in MILANG, translating to lower returns compared with its peers in SA.
Figures from the previous quarter show that capital gains for real estate buyers in MILANG are low, as opposed to average gains per annum over the past five years.
The suburb posted a 18.28% 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 $270 based on current median home prices for the suburb.
On average, rents on listings have reached the $270 mark, reflecting a 5.11% increase in returns based on the current median price in MILANG.
MILANG, 5256 ranks 47th in SA in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 99th on the list of best yielding suburbs for rental properties in SA, posting a 5.11% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $275,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | 12.24% | N/A |
| Median 3 years | 18.28% | N/A |
| Median 5 years | 13.4% | N/A |
| 10 years average annual | 2.88% | N/A |
| Weekly media advert. rent | $270 | N/A |
| Time on Market | 137.5 days | N/A |
| Gross Rental Yield Percent | 5.11% | N/A |
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