Property market update: Perth, November 2018
The Perth property market continues to show signs of positivity through record high employment levels and low residential vacancy rates, dri...
SOUTH GEELONG, 3220 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling SOUTH GEELONG, 3220 values up and netting property investors a capital gain of 14.78% for the past year.
Investors saw the median home price rise to $660,000.
Profits due to an upward trend in home prices in the suburb averaged 16.67% per annum over a 3-year period.
SOUTH GEELONG now ranks at the 289th 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 $382.5 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, 12 properties were sold in SOUTH GEELONG during the past year, making it the 666th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $660,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.54% | N/A |
| Median 12 month | 14.78% | N/A |
| Median 3 years | 50% | N/A |
| Median 5 years | 56.96% | N/A |
| 10 years average annual | 8.91% | N/A |
| Weekly media advert. rent | $382.5 | N/A |
| Time on Market | 0.0 days | N/A |
| Gross Rental Yield Percent | 3.01% | N/A |
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