Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
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 17.22% for the past year.
Investors saw the median home price rise to $160,000.
Profits due to an upward trend in home prices in the suburb averaged 23.4% per annum over a 3-year period.
WHYALLA NORRIE now ranks at the 64th 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 high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $200 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 122.2 days.
In 2016, 83 properties were sold in WHYALLA NORRIE during the past year, making it the 24th most active market in SA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $160,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 6.67% | N/A |
| Median 12 month | 17.22% | N/A |
| Median 3 years | 70.21% | N/A |
| Median 5 years | -11.11% | N/A |
| 10 years average annual | 1.44% | N/A |
| Weekly media advert. rent | $200 | N/A |
| Time on Market | 122.2 days | N/A |
| Gross Rental Yield Percent | 6.5% | N/A |
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