Property Market Update: Brisbane, April 2022
Brisbane remained golden in April, as house values in the city marched higher to hit a new record high. But with a rate ...
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 14.75% for the past year.
Investors saw the median home price rise to $350,000.
Profits due to an upward trend in home prices in the suburb averaged 5.04% per annum over a 3-year period.
BALGA now ranks at the 283rd 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 $360 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 44.2 days.
In 2016, 284 properties were sold in BALGA during the past year, making it the 226th most active market in WA based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||14.75%||20.71%|
|Median 3 years||15.13%||10.17%|
|Median 5 years||-4.37%||6.38%|
|10 years average annual||0.34%||2.09%|
|Weekly media advert. rent||$360||$370|
|Time on Market||44.2 days||58.5 days|
|Gross Rental Yield Percent||5.35%||5.92%|