$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $1,005,000.
The upward trend in home prices in MENORA, 6050 averaged 2.69% per annum over a 3-year period.
Average weekly rents on listings have reached the $467.5 mark, reflecting a 2.42% increase in returns based on the current median price in MENORA.
An average of 1.67 real estate transactions take place per month in MENORA which translates to 20 per annum.
20 properties were sold in MENORA in 2016, making it the 295th most active market in WA based on total real estate transactions.
MENORA, 6050 places 418th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,005,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -5.39% | N/A |
| Median 12 month | -22.69% | N/A |
| Median 3 years | 8.06% | N/A |
| Median 5 years | 7.49% | N/A |
| 10 years average annual | 0.67% | N/A |
| Weekly media advert. rent | $467.5 | N/A |
| Time on Market | 98.9 days | N/A |
| Gross Rental Yield Percent | 2.42% | N/A |
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