House prices see largest price drop for last 7 years
A property institute has claimed house prices have seen their largest drop since December 2011, giving buyers the opportunity to add to thei...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also 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 $381,500.
Average weekly rents on listings have reached the N/A mark, reflecting a 0% increase in returns based on the current median price in NEWLANDS ARM.
An average of 1.67 real estate transactions take place per month in NEWLANDS ARM which translates to 20 per annum.
20 properties were sold in NEWLANDS ARM in 2016, making it the 472nd most active market in VIC based on total real estate transactions.
NEWLANDS ARM, 3875 places 561st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $381,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -2.18% | N/A |
| Median 12 month | 5.24% | N/A |
| Median 3 years | N/A | N/A |
| Median 5 years | 19.22% | N/A |
| 10 years average annual | -0.35% | N/A |
| Weekly media advert. rent | N/A | N/A |
| Time on Market | 67.9 days | N/A |
| Gross Rental Yield Percent | N/A | N/A |
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