Property market update: Melbourne, April 2020
Several weeks after lockdown measures have been passed due to the ongoing COVD-19 pandemic, how is the Melbourne property market faring in t...
Subscribe to our newsletter
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 $235,000.
The upward trend in home prices in UPPER BURNIE, 7320 averaged 9.59% per annum over a 3-year period.
Average weekly rents on listings have reached the $275 mark, reflecting a 6.09% increase in returns based on the current median price in UPPER BURNIE.
An average of 5.08 real estate transactions take place per month in UPPER BURNIE which translates to 61 per annum.
61 properties were sold in UPPER BURNIE in 2016, making it the 30th most active market in TAS based on total real estate transactions.
UPPER BURNIE, 7320 places 134th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $235,000 | $185,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.05% | 3.64% |
| Median 12 month | -0.21% | 18.21% |
| Median 3 years | 28.77% | N/A |
| Median 5 years | 17.5% | N/A |
| 10 years average annual | 1.46% | 8.01% |
| Weekly media advert. rent | $275 | $235 |
| Time on Market | 50.2 days | 138.5 days |
| Gross Rental Yield Percent | 6.09% | 6.61% |
Several weeks after lockdown measures have been passed due to the ongoing COVD-19 pandemic, how is the Melbourne property market faring in t...
While property experts and big banks have widely predicted that the property market will fall, so far it has remained stable, an industry ex...
New laws to help ease the financial burden on Queensland strata communities caused by the COVID-19 pandemic have been passed by State Parlia...
NSW Fair Trading has clarified what landlords in the state can do should they find themselves in a position of negotiating a rental agreemen...
New research has shed light on the current state of the residential real estate market, noting the worst is likely behind us as restrictions...
While the current crisis could exacerbate high mortgage debt, there are currently no signs of distress visible in the housing market, accord...
Get notifications in real-time for staying up to date with content that matters to you.
Subscribe to our newsletter
