$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
GOLDEN SQUARE, 3555 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling GOLDEN SQUARE, 3555 values up and netting property investors a capital gain of 14.39% for the past year.
Investors saw the median home price rise to $377,500.
Profits due to an upward trend in home prices in the suburb averaged 6.51% per annum over a 3-year period.
GOLDEN SQUARE now ranks at the 98th 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 GOLDEN SQUARE are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $340 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In GOLDEN SQUARE, homes and units usually stay on listing for an average of 43.5 days.
In 2016, 176 properties were sold in GOLDEN SQUARE during the past year, making it the 530th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $377,500 | $279,500 |
| GROWTH REPORT | ||
| Median Quarterly | 6.94% | -1.76% |
| Median 12 month | 14.39% | -0.45% |
| Median 3 years | 19.54% | 5.47% |
| Median 5 years | 21.77% | 19.96% |
| 10 years average annual | 3.9% | 2.75% |
| Weekly media advert. rent | $340 | $285 |
| Time on Market | 43.5 days | 81.2 days |
| Gross Rental Yield Percent | 4.68% | 5.3% |
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
As mortgage rates hit historical lows, Aussies are increasingly wondering whether it’s cheaper to buy or rent. ...
With wages growth at record-low levels, a property expert has warned continuing low and flat wages could impede home price growth. ...
Despite momentary disruptions, the auction market found a way to thrive and boom amid the impact of COVID-19. ...
Residential housing construction costs are trending higher as dwelling approvals for houses continue to reach record highs, a new report has...
With one in five city residents tipped to move to the regions, experts are pressing for reforms to improve limited supply, inadequate infras...
Get notifications in real-time for staying up to date with content that matters to you.
