Canberra Now Boasts A 7-figure Median House Price
With double-digit growth and the steepest price acceleration in almost three decades, Canberra continues to dominate the...
NEWINGTON, 3350 ranks 6th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 48.97% 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 $797,000.
The upward trend in home prices in NEWINGTON, 3350 averaged 28.16% per annum over a 3-year period.
Average weekly rents on listings have reached the $330 mark, reflecting a 2.15% increase in returns based on the current median price in NEWINGTON.
An average of 2.33 real estate transactions take place per month in NEWINGTON which translates to 28 per annum.
28 properties were sold in NEWINGTON in 2016, making it the 395th most active market in VIC based on total real estate transactions.
NEWINGTON, 3350 places 110th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||48.97%||N/A|
|Median 3 years||84.49%||N/A|
|Median 5 years||124.19%||N/A|
|10 years average annual||11.47%||N/A|
|Weekly media advert. rent||$330||N/A|
|Time on Market||51.4 days||N/A|
|Gross Rental Yield Percent||2.15%||N/A|