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NEWINGTON, 3350 ranks 372nd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 18.11% 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 $450,000.
The upward trend in home prices in NEWINGTON, 3350 averaged 10.78% per annum over a 3-year period.
Average weekly rents on listings have reached the $300 mark, reflecting a 3.47% increase in returns based on the current median price in NEWINGTON.
An average of 3.33 real estate transactions take place per month in NEWINGTON which translates to 40 per annum.
40 properties were sold in NEWINGTON in 2016, making it the 239th most active market in VIC based on total real estate transactions.
NEWINGTON, 3350 places 142nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $450,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 3.81% | N/A |
| Median 12 month | 18.11% | N/A |
| Median 3 years | 32.35% | N/A |
| Median 5 years | 45.16% | N/A |
| 10 years average annual | 5.17% | N/A |
| Weekly media advert. rent | $300 | N/A |
| Time on Market | 43.1 days | N/A |
| Gross Rental Yield Percent | 3.47% | N/A |
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