House Prices Push Average Australian’s Wealth Even Higher In 2022
Despite worries of a housing downturn, Australians’ wealth actually increased 1.2 per cent on average in the first qua...
SOUTH GEELONG, 3220 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 $1,000,000.
Profits due to an upward trend in home prices in the suburb averaged 15.98% per annum over a 3-year period.
SOUTH GEELONG now ranks at the 258th 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 SOUTH GEELONG 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 $485 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 SOUTH GEELONG, homes and units usually stay on listing for an average of 0.0 days.
In 2016, 20 properties were sold in SOUTH GEELONG during the past year, making it the 498th most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||N/A|
|Median 3 years||47.93%||N/A|
|Median 5 years||110.08%||N/A|
|10 years average annual||8.85%||N/A|
|Weekly media advert. rent||$485||N/A|
|Time on Market||0.0 days||N/A|
|Gross Rental Yield Percent||2.52%||N/A|