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...
A 13.22% increase in median property prices in PARK GROVE, 7320 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 51st.
A steady increase in median property prices over a five-year period in the suburb translates to a 16.41% capital gain.
It 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 $372,500
The augmented property values in the suburb are trailing above the territorial average of 12.88% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $360.
Home owners selling their properties and realtors in PARK GROVE usually have to wait an average of 69.3 days days before their assets are lifted off the market.
The TAS suburb ranks 38th on the list of best yielding suburbs for rental properties in TAS, posting a 5.03% return.
It also places places 23rd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||13.22%||N/A|
|Median 3 years||16.41%||N/A|
|Median 5 years||35.95%||N/A|
|10 years average annual||2.23%||N/A|
|Weekly media advert. rent||$360||N/A|
|Time on Market||69.3 days||N/A|
|Gross Rental Yield Percent||5.03%||N/A|