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...
NORANDA, 6062 ranks 1239th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 10.44% for property investors.
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also 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 $550,000.
The downward trend in home prices in NORANDA, 6062 averaged -2.26% per annum over a 3-year period.
Average weekly rents on listings have reached the $420 mark, reflecting a 3.97% increase in returns based on the current median price in NORANDA.
An average of 6.42 real estate transactions take place per month in NORANDA which translates to 77 per annum.
77 properties were sold in NORANDA in 2016, making it the 50th most active market in WA based on total real estate transactions.
NORANDA, 6062 places 52nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $550,000 | $255,500 |
| GROWTH REPORT | ||
| Median Quarterly | 10.44% | 10.13% |
| Median 12 month | 10.44% | 13.56% |
| Median 3 years | -6.78% | -18.89% |
| Median 5 years | -12.7% | -31.87% |
| 10 years average annual | 0.1% | -2.49% |
| Weekly media advert. rent | $420 | $290 |
| Time on Market | 55.5 days | 50.4 days |
| Gross Rental Yield Percent | 3.97% | 5.9% |
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