Borrowers feel the pinch of 'really strict' lending rules
Former Queensland state premier, Anna Bligh, has hit out at the strict serviceability rules lenders have imposed on borrowers, arguing they ...
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 $858,500.
The upward trend in home prices in WEST FOOTSCRAY, 3012 averaged 9.53% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 2.73% increase in returns based on the current median price in WEST FOOTSCRAY.
An average of 10.17 real estate transactions take place per month in WEST FOOTSCRAY which translates to 122 per annum.
122 properties were sold in WEST FOOTSCRAY in 2016, making it the 659th most active market in VIC based on total real estate transactions.
WEST FOOTSCRAY, 3012 places 426th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $858,500 | $430,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.89% | 8.86% |
| Median 12 month | -2.33% | 2.87% |
| Median 3 years | 28.6% | -3.37% |
| Median 5 years | 57.52% | 14.67% |
| 10 years average annual | 7.36% | 5.73% |
| Weekly media advert. rent | $450 | $340 |
| Time on Market | 55.4 days | 56.5 days |
| Gross Rental Yield Percent | 2.73% | 4.11% |
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