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...
OCEAN REEF, 6027 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 $733,750.
Profits due to an upward trend in home prices in the suburb averaged 1.61% per annum over a 3-year period.
OCEAN REEF now ranks at the 269th 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 OCEAN REEF 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 $550 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 OCEAN REEF, homes and units usually stay on listing for an average of 51.7 days.
In 2016, 115 properties were sold in OCEAN REEF during the past year, making it the 453rd most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $733,750 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.21% | N/A |
| Median 12 month | -0.71% | N/A |
| Median 3 years | 4.82% | N/A |
| Median 5 years | -3.77% | N/A |
| 10 years average annual | 0.42% | N/A |
| Weekly media advert. rent | $550 | N/A |
| Time on Market | 51.7 days | N/A |
| Gross Rental Yield Percent | 3.9% | N/A |
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