Property market update: Perth, November 2018
The Perth property market continues to show signs of positivity through record high employment levels and low residential vacancy rates, dri...
GLEN FORREST, 6071 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 $540,000.
Profits due to an downward trend in home prices in the suburb averaged -2.56% per annum over a 3-year period.
GLEN FORREST now ranks at the 14th 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 GLEN FORREST 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 $375 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 GLEN FORREST, homes and units usually stay on listing for an average of 98.3 days.
In 2016, 37 properties were sold in GLEN FORREST during the past year, making it the 178th most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $540,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 10.88% | N/A |
| Median 12 month | 2.08% | N/A |
| Median 3 years | -7.69% | N/A |
| Median 5 years | -1.64% | N/A |
| 10 years average annual | -0.34% | N/A |
| Weekly media advert. rent | $375 | N/A |
| Time on Market | 98.3 days | N/A |
| Gross Rental Yield Percent | 3.61% | N/A |
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