Prices to soon exceed peak in ‘unsustainable moon-shot’
Residential property prices are set to exceed their 2017 peak in the coming months, but conservatism from mortgage-holders would likely stun...
ST ALBANS PARK, 3219 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 $425,000.
Profits due to an upward trend in home prices in the suburb averaged 9.66% per annum over a 3-year period.
ST ALBANS PARK now ranks at the 387th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in ST ALBANS PARK are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $370 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In ST ALBANS PARK, homes and units usually stay on listing for an average of 46.7 days.
In 2016, 65 properties were sold in ST ALBANS PARK during the past year, making it the 122nd most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $425,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -0.82% | N/A |
| Median 12 month | 0% | N/A |
| Median 3 years | 28.98% | N/A |
| Median 5 years | 30.17% | N/A |
| 10 years average annual | 5.2% | N/A |
| Weekly media advert. rent | $370 | N/A |
| Time on Market | 46.7 days | N/A |
| Gross Rental Yield Percent | 4.53% | N/A |
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