Prices to soon exceed peak in ‘unsustainable moon-shot’
Residential property prices are set to exceed their 2017 peak in the coming months, but conservatism from mortgage-holders would likely stun...
LONGWARRY, 3816 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 $405,000.
Profits due to an upward trend in home prices in the suburb averaged 7.24% per annum over a 3-year period.
LONGWARRY now ranks at the 584th 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 LONGWARRY are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $350 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 LONGWARRY, homes and units usually stay on listing for an average of 96.9 days.
In 2016, 72 properties were sold in LONGWARRY during the past year, making it the 96th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $405,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -5.48% | N/A |
| Median 12 month | 0.5% | N/A |
| Median 3 years | 21.71% | N/A |
| Median 5 years | 37.76% | N/A |
| 10 years average annual | 5.43% | N/A |
| Weekly media advert. rent | $350 | N/A |
| Time on Market | 96.9 days | N/A |
| Gross Rental Yield Percent | 4.49% | N/A |
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