Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
WY YUNG, 3875 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 WY YUNG, 3875 values up and netting property investors a capital gain of 2.42% for the past year.
Investors saw the median home price rise to $370,000.
Profits due to an upward trend in home prices in the suburb averaged 5.03% per annum over a 3-year period.
WY YUNG now ranks at the 124th 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 WY YUNG 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 WY YUNG, homes and units usually stay on listing for an average of 71.9 days.
In 2016, 33 properties were sold in WY YUNG during the past year, making it the 326th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $370,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 5.71% | N/A |
| Median 12 month | 2.42% | N/A |
| Median 3 years | 15.09% | N/A |
| Median 5 years | 27.15% | N/A |
| 10 years average annual | 3.06% | N/A |
| Weekly media advert. rent | N/A | N/A |
| Time on Market | 71.9 days | N/A |
| Gross Rental Yield Percent | N/A | N/A |
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