Australia’s most popular rental suburbs revealed
Tenants should brace themselves for rental price hikes as tightening vacancy rates continue across the country, new research has revealed. ...
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 $986,000.
The downward trend in home prices in OAKLEIGH EAST, 3166 averaged -2.73% per annum over a 3-year period.
Average weekly rents on listings have reached the $445 mark, reflecting a 2.35% increase in returns based on the current median price in OAKLEIGH EAST.
An average of 2.75 real estate transactions take place per month in OAKLEIGH EAST which translates to 33 per annum.
33 properties were sold in OAKLEIGH EAST in 2016, making it the 324th most active market in VIC based on total real estate transactions.
OAKLEIGH EAST, 3166 places 586th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $986,000 | $770,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.1% | 0.65% |
| Median 12 month | 1.44% | -2.56% |
| Median 3 years | -8.19% | -5.52% |
| Median 5 years | 11.73% | 13.49% |
| 10 years average annual | 4.22% | 4.57% |
| Weekly media advert. rent | $445 | $460 |
| Time on Market | 53.0 days | 80.1 days |
| Gross Rental Yield Percent | 2.35% | 3.11% |
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