Property Market Update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
A 38.51% increase in median property prices in RYE, 3941 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 33rd.
A steady increase in median property prices over a five-year period in the suburb translates to a 60.43% capital gain.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,115,000
The augmented property values in the suburb are trailing above the territorial average of 18.09% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $520.
Home owners selling their properties and realtors in RYE usually have to wait an average of 29.2 days days before their assets are lifted off the market.
The VIC suburb ranks 405th on the list of best yielding suburbs for rental properties in VIC, posting a 2.43% return.
It also places places 161st in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||38.51%||N/A|
|Median 3 years||60.43%||87.37%|
|Median 5 years||99.11%||121.65%|
|10 years average annual||10.42%||6.16%|
|Weekly media advert. rent||$520||$375|
|Time on Market||29.2 days||59.5 days|
|Gross Rental Yield Percent||2.43%||2.15%|