Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
NEWINGTON, 3350 ranks 230th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 23.5% for property investors.
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 $617,500.
The upward trend in home prices in NEWINGTON, 3350 averaged 14.53% per annum over a 3-year period.
Average weekly rents on listings have reached the $335 mark, reflecting a 2.82% increase in returns based on the current median price in NEWINGTON.
An average of 2 real estate transactions take place per month in NEWINGTON which translates to 24 per annum.
24 properties were sold in NEWINGTON in 2016, making it the 426th most active market in VIC based on total real estate transactions.
NEWINGTON, 3350 places 114th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $617,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 6.01% | N/A |
| Median 12 month | 23.5% | N/A |
| Median 3 years | 43.6% | N/A |
| Median 5 years | 81.62% | N/A |
| 10 years average annual | 8.34% | N/A |
| Weekly media advert. rent | $335 | N/A |
| Time on Market | 76.1 days | N/A |
| Gross Rental Yield Percent | 2.82% | N/A |
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