Poor wage growth could impede home price growth
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $478,000.
The upward trend in home prices in HUONVILLE, 7109 averaged 12.58% per annum over a 3-year period.
Average weekly rents on listings have reached the $382.5 mark, reflecting a 4.16% increase in returns based on the current median price in HUONVILLE.
An average of 5.58 real estate transactions take place per month in HUONVILLE which translates to 67 per annum.
67 properties were sold in HUONVILLE in 2016, making it the 24th most active market in TAS based on total real estate transactions.
HUONVILLE, 7109 places 54th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $478,000 | $282,500 |
| GROWTH REPORT | ||
| Median Quarterly | 5.05% | 3.88% |
| Median 12 month | 9.89% | 1.8% |
| Median 3 years | 37.75% | 18.45% |
| Median 5 years | 36.57% | 29% |
| 10 years average annual | 6.18% | 2.88% |
| Weekly media advert. rent | $382.5 | $307.5 |
| Time on Market | 74.7 days | 0.0 days |
| Gross Rental Yield Percent | 4.16% | 5.66% |
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