Australia is in the midst of ‘the biggest rental crisis in history’, expert says
Australia’s property market has never been more paradoxical, with intense rental pressure recorded in a majority of towns and cities, but ...
BALGA, 6061 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in WA have risen as a whole, pulling BALGA, 6061 values up and netting property investors a capital gain of 0.67% for the past year.
Investors saw the median home price rise to $300,000.
Profits due to an downward trend in home prices in the suburb averaged -3.92% per annum over a 3-year period.
BALGA now ranks at the 268th 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 $300 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 76.0 days.
In 2016, 194 properties were sold in BALGA during the past year, making it the 298th most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $300,000 | $225,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.84% | 5.39% |
| Median 12 month | 0.67% | N/A |
| Median 3 years | -11.76% | -16.67% |
| Median 5 years | -25% | -30.98% |
| 10 years average annual | -1.75% | -2.1% |
| Weekly media advert. rent | $300 | $285 |
| Time on Market | 76.0 days | 73.6 days |
| Gross Rental Yield Percent | 5.2% | 6.59% |
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