20 Perth Suburbs That Have Already Surpassed Expert Predictions
The REIWA’s earlier forecasts for Perth’s property market are on track to be exceeded, with 20 suburbs recording bet...
SURF BEACH, 3922 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 SURF BEACH, 3922 values up and netting property investors a capital gain of 22.6% for the past year.
Investors saw the median home price rise to $607,500.
Profits due to an upward trend in home prices in the suburb averaged 13.22% per annum over a 3-year period.
SURF BEACH now ranks at the 3rd 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 SURF BEACH are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $330 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 SURF BEACH, homes and units usually stay on listing for an average of 111.7 days.
In 2016, 31 properties were sold in SURF BEACH during the past year, making it the 353rd most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||22.6%||N/A|
|Median 3 years||39.66%||N/A|
|Median 5 years||63.31%||N/A|
|10 years average annual||6.14%||N/A|
|Weekly media advert. rent||$330||N/A|
|Time on Market||111.7 days||N/A|
|Gross Rental Yield Percent||2.82%||N/A|