Migration cut plans set to impact property market
Top property industry bosses hold opposing views to the Prime Minister’s recently announced plan to reduce Australia’s migration intak...
HARRISDALE, 6112 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 $501,250.
Profits due to an downward trend in home prices in the suburb averaged -2.1% per annum over a 3-year period.
HARRISDALE now ranks at the 147th 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 HARRISDALE are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $395 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 HARRISDALE, homes and units usually stay on listing for an average of 91.7 days.
In 2016, 153 properties were sold in HARRISDALE during the past year, making it the 327th most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $501,250 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.35% | N/A |
| Median 12 month | -4.16% | N/A |
| Median 3 years | -6.31% | N/A |
| Median 5 years | 4.43% | N/A |
| 10 years average annual | 8.34% | N/A |
| Weekly media advert. rent | $395 | N/A |
| Time on Market | 91.7 days | N/A |
| Gross Rental Yield Percent | 4.1% | N/A |
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