SALE, 3850 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 $292,000.
Profits due to an downward trend in home prices in the suburb averaged -0.89% per annum over a 3-year period.
SALE now ranks at the 560th 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 SALE 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 $300 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 SALE, homes and units usually stay on listing for an average of 114.8 days.
In 2016, 240 properties were sold in SALE during the past year, making it the 392nd most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $292,000 | $221,500 |
| GROWTH REPORT | ||
| Median Quarterly | -0.51% | -3.49% |
| Median 12 month | -2.67% | 0.68% |
| Median 3 years | -2.67% | 9.65% |
| Median 5 years | 6.18% | -3.28% |
| 10 years average annual | 3.27% | 2.98% |
| Weekly media advert. rent | $300 | $235 |
| Time on Market | 114.8 days | 112.3 days |
| Gross Rental Yield Percent | 5.34% | 5.52% |
There is a threshold for the land value...
Hi Ho Ping
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You are perhaps one of the few comment...