Property to regain momentum following health crisis
Strong property price growth before the outbreak of COVID-19 gives investors a snapshot of what market conditions will be like once the pand...
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Based on its average 5-year and quarterly capital gains, the suburb saw average decrease 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 $585,000.
The downward trend in home prices in EAST VICTORIA PARK, 6101 averaged -2.62% per annum over a 3-year period.
Average weekly rents on listings have reached the $400 mark, reflecting a 3.56% increase in returns based on the current median price in EAST VICTORIA PARK.
An average of 12.5 real estate transactions take place per month in EAST VICTORIA PARK which translates to 150 per annum.
150 properties were sold in EAST VICTORIA PARK in 2016, making it the 349th most active market in WA based on total real estate transactions.
EAST VICTORIA PARK, 6101 places 290th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $585,000 | $396,500 |
| GROWTH REPORT | ||
| Median Quarterly | -2.5% | -2.58% |
| Median 12 month | -1.68% | 1.67% |
| Median 3 years | -7.87% | 1.41% |
| Median 5 years | -10% | -15.19% |
| 10 years average annual | 1.57% | 0.49% |
| Weekly media advert. rent | $400 | $330 |
| Time on Market | 88.3 days | 87.2 days |
| Gross Rental Yield Percent | 3.56% | 4.33% |
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