Responsible lending leeway ‘put to the test’ by COVID-19
The COVID-19 crisis will bring to light the effectiveness of principles-based responsible lending guidance, according to ASIC chair James Sh...
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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 $502,500.
The upward trend in home prices in CRANBOURNE, 3977 averaged 6.74% per annum over a 3-year period.
Average weekly rents on listings have reached the $360 mark, reflecting a 3.73% increase in returns based on the current median price in CRANBOURNE.
An average of 24.33 real estate transactions take place per month in CRANBOURNE which translates to 292 per annum.
292 properties were sold in CRANBOURNE in 2016, making it the 353rd most active market in VIC based on total real estate transactions.
CRANBOURNE, 3977 places 464th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $502,500 | $370,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.5% | 1.37% |
| Median 12 month | -4.29% | -3.96% |
| Median 3 years | 20.22% | 26.69% |
| Median 5 years | 49.31% | 38.45% |
| 10 years average annual | 5.83% | 5.3% |
| Weekly media advert. rent | $360 | $330 |
| Time on Market | 71.7 days | 54.4 days |
| Gross Rental Yield Percent | 3.73% | 4.64% |
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