How Will The Budget Impact The Housing Market?
While the 2021 budget included a number of measures relevant to property investors, an expert has questioned whether any...
WHYALLA NORRIE, 5608 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 WHYALLA NORRIE, 5608 values up and netting property investors a capital gain of 3.45% for the past year.
Investors saw the median home price rise to $150,000.
Profits due to an upward trend in home prices in the suburb averaged 16.67% per annum over a 3-year period.
WHYALLA NORRIE now ranks at the 326th 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 WHYALLA NORRIE are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $245 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 WHYALLA NORRIE, homes and units usually stay on listing for an average of 115.8 days.
In 2016, 91 properties were sold in WHYALLA NORRIE during the past year, making it the 11th most active market in SA based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3.45%||N/A|
|Median 3 years||50%||N/A|
|Median 5 years||-14.29%||N/A|
|10 years average annual||-0.15%||N/A|
|Weekly media advert. rent||$245||N/A|
|Time on Market||115.8 days||N/A|
|Gross Rental Yield Percent||8.49%||N/A|