Government ‘pleased’ With Property Price Growth
The government said it is not concerned about the RBA’s warning that the financial system could be rocked if there’s...
RAINBOW, 3424 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 $80,000.
RAINBOW now ranks at the 19th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in RAINBOW are high, as opposed to average gains per annum over the past five years.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In RAINBOW, homes and units usually stay on listing for an average of 76.1 days.
In 2016, 13 properties were sold in RAINBOW during the past year, making it the 647th most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-6.98%||N/A|
|Median 3 years||N/A||N/A|
|Median 5 years||25%||N/A|
|10 years average annual||-10.2%||N/A|
|Weekly media advert. rent||N/A||N/A|
|Time on Market||76.1 days||N/A|
|Gross Rental Yield Percent||N/A||N/A|