Property buyers warned on hasty decisions with HomeBuilder grant
Property buyers looking to cash in on the HomeBuilder grant should proceed with caution, with uncertainty around building costs and job secu...
BALGA, 6061 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 $295,000.
Profits due to an downward trend in home prices in the suburb averaged -6.02% per annum over a 3-year period.
BALGA now ranks at the 235th 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 BALGA 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 $297 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 BALGA, homes and units usually stay on listing for an average of 82.6 days.
In 2016, 172 properties were sold in BALGA during the past year, making it the 315th most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $295,000 | $205,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.84% | 2.5% |
| Median 12 month | -5.45% | -10.09% |
| Median 3 years | -18.06% | -26.79% |
| Median 5 years | -28.7% | -37.21% |
| 10 years average annual | -1.47% | -3.44% |
| Weekly media advert. rent | $297 | $300 |
| Time on Market | 82.6 days | 108.3 days |
| Gross Rental Yield Percent | 5.24% | 7.61% |
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