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Newington
AREA REPORTS

Newington

Newington - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3350

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NEWINGTON, 3350 ranks 6th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 45.91% 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 stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $735,000.

The upward trend in home prices in NEWINGTON, 3350 averaged 23.64% per annum over a 3-year period.

Average weekly rents on listings have reached the $330 mark, reflecting a 2.33% 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 435th most active market in VIC based on total real estate transactions.

NEWINGTON, 3350 places 21st in Australia based on median property value growth during the quarter.

Data report can be found below

Newington
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $735,000 N/A
GROWTH REPORT
Median Quarterly 13.95% N/A
Median 12 month 45.91% N/A
Median 3 years 70.93% N/A
Median 5 years 116.18% N/A
10 years average annual 10.32% N/A
Weekly media advert. rent $330 N/A
Time on Market 55.4 days N/A
Gross Rental Yield Percent 2.33% N/A
demographics (median values)*
Total Population
59145
Weekly Household Income
1238
Household Size
2.40
Age
37
Monthly Loan Repayment
1408
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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