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1 MIN READ20 Perth Suburbs That Have Already Surpassed Expert Predictions
The REIWA’s earlier forecasts for Perth’s property market are on track to be exceeded, with 20 suburbs recording bet...
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NewingtonNewington - SUBURB PROFILE REPORT
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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.
| 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 |
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