Markets In A ‘sound’ State Despite Shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
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 $1,035,000.
The upward trend in home prices in SOUTH KINGSVILLE, 3015 averaged 4.17% per annum over a 3-year period.
Average weekly rents on listings have reached the $495 mark, reflecting a 2.49% increase in returns based on the current median price in SOUTH KINGSVILLE.
An average of 2 real estate transactions take place per month in SOUTH KINGSVILLE which translates to 24 per annum.
24 properties were sold in SOUTH KINGSVILLE in 2016, making it the 440th most active market in VIC based on total real estate transactions.
SOUTH KINGSVILLE, 3015 places 620th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.95%||19.71%|
|Median 3 years||12.5%||N/A|
|Median 5 years||20%||73.13%|
|10 years average annual||5.92%||10.12%|
|Weekly media advert. rent||$495||$350|
|Time on Market||0.0 days||60.2 days|
|Gross Rental Yield Percent||2.49%||2.22%|