Property market update: Sydney, March 2020
The whole world halted in March with the emergence of an unprecedented health crisis. How will the Sydney property market fare moving forwar...
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Based on its average 5-year and quarterly capital gains SOUTHBANK, 3006 saw average growth in the long term.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Profits due to an downward trend in home prices in SOUTHBANK, 3006 averaged -0.91% per annum over a 3-year period.
Average weekly rents on listings have reached the $570 mark, reflecting a 5.39% increase in returns based on the current median price in SOUTHBANK.
An average of 28.75 real estate transactions take place per month in SOUTHBANK which translates to 345 per annum.
345 properties were sold in SOUTHBANK during the past year, making it the 145th most active market in VIC based on total real estate transactions.
SOUTHBANK, 3006 places 171st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | N/A | $549,500 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | 1.95% |
| Median 12 month | N/A | -0.09% |
| Median 3 years | N/A | -2.74% |
| Median 5 years | N/A | 1.67% |
| 10 years average annual | N/A | 1.33% |
| Weekly media advert. rent | N/A | $570 |
| Time on Market | N/A | 75.5 days |
| Gross Rental Yield Percent | N/A | 5.39% |
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