Menangle Park Could Be The Next South Western Sydney Success Story
For buyers willing to gamble on an early-stage release in an unknown suburb, the rewards might just outweigh the risks. ...
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 $460,000.
The upward trend in home prices in NEWSTEAD, 7250 averaged 7.12% per annum over a 3-year period.
Average weekly rents on listings have reached the $420 mark, reflecting a 4.75% increase in returns based on the current median price in NEWSTEAD.
An average of 7.25 real estate transactions take place per month in NEWSTEAD which translates to 87 per annum.
87 properties were sold in NEWSTEAD in 2016, making it the 4th most active market in TAS based on total real estate transactions.
NEWSTEAD, 7250 places 132nd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.79%||-8.44%|
|Median 3 years||21.37%||-1.51%|
|Median 5 years||48.39%||34.1%|
|10 years average annual||3.89%||8.92%|
|Weekly media advert. rent||$420||$320|
|Time on Market||47.7 days||47.7 days|
|Gross Rental Yield Percent||4.75%||5.68%|