Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
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 $720,000.
The upward trend in home prices in NEWINGTON, 3350 averaged 18.17% per annum over a 3-year period.
Average weekly rents on listings have reached the $360 mark, reflecting a 2.6% increase in returns based on the current median price in NEWINGTON.
An average of 3.25 real estate transactions take place per month in NEWINGTON which translates to 39 per annum.
39 properties were sold in NEWINGTON in 2016, making it the 269th most active market in VIC based on total real estate transactions.
NEWINGTON, 3350 places 750th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.13%||N/A|
|Median 3 years||54.51%||N/A|
|Median 5 years||92%||N/A|
|10 years average annual||10.14%||N/A|
|Weekly media advert. rent||$360||N/A|
|Time on Market||33.7 days||N/A|
|Gross Rental Yield Percent||2.6%||N/A|