Housing market reached turning point mid-2019
New research has supported the idea that Australia’s housing market “reached a turning point” midway through 2019. ...
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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 $640,000.
The upward trend in home prices in POINT COOK, 3030 averaged 8.5% per annum over a 3-year period.
Average weekly rents on listings have reached the $420 mark, reflecting a 3.41% increase in returns based on the current median price in POINT COOK.
An average of 76.58 real estate transactions take place per month in POINT COOK which translates to 919 per annum.
919 properties were sold in POINT COOK in 2016, making it the 25th most active market in VIC based on total real estate transactions.
POINT COOK, 3030 places 362nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $640,000 | $480,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.23% | 3.23% |
| Median 12 month | 0.39% | 7.02% |
| Median 3 years | 25.49% | 28.86% |
| Median 5 years | 46.33% | 36.36% |
| 10 years average annual | 4.78% | 5.22% |
| Weekly media advert. rent | $420 | $400 |
| Time on Market | 67.0 days | 68.9 days |
| Gross Rental Yield Percent | 3.41% | 4.33% |
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