Markets In A ‘sound’ State Despite Shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
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 21.04% for the past year.
Investors saw the median home price rise to $464,500.
Profits due to an upward trend in home prices in the suburb averaged 15.82% per annum over a 3-year period.
WY YUNG now ranks at the 555th 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 low, 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 43.5 days.
In 2016, 30 properties were sold in WY YUNG during the past year, making it the 352nd most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.04%||N/A|
|Median 3 years||47.46%||N/A|
|Median 5 years||39.28%||N/A|
|10 years average annual||4.88%||N/A|
|Weekly media advert. rent||N/A||N/A|
|Time on Market||43.5 days||N/A|
|Gross Rental Yield Percent||N/A||N/A|