Clearance rates improve across lower auction volumes
Preliminary figures show improved clearance rates across the combined capital cities for the week ending 2 August. ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $800,000.
The downward trend in home prices in WEST FOOTSCRAY, 3012 averaged -1.63% per annum over a 3-year period.
Average weekly rents on listings have reached the $470 mark, reflecting a 3.06% increase in returns based on the current median price in WEST FOOTSCRAY.
An average of 8.58 real estate transactions take place per month in WEST FOOTSCRAY which translates to 103 per annum.
103 properties were sold in WEST FOOTSCRAY in 2016, making it the 702nd most active market in VIC based on total real estate transactions.
WEST FOOTSCRAY, 3012 places 322nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $800,000 | $492,500 |
| GROWTH REPORT | ||
| Median Quarterly | 1.91% | -2.48% |
| Median 12 month | -1.36% | 11.93% |
| Median 3 years | -4.9% | 16.57% |
| Median 5 years | 26.98% | 15.88% |
| 10 years average annual | 5.23% | 4.66% |
| Weekly media advert. rent | $470 | $355 |
| Time on Market | 61.2 days | 86.2 days |
| Gross Rental Yield Percent | 3.06% | 3.75% |
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