Investors cautioned as property developers on the ‘hit list’
Property investors who are getting creative with developments and their self-managed superannuation funds should be wary that the regulator...
Property investors in PALMYRA enjoyed capital gains of 4.17% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $625,000.
Profits due to an downward trend in home prices there averaged -4.2% per annum over a 3-year period.
Home owners selling their properties and realtors in PALMYRA usually have to wait an average of 45.2 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $420 mark, reflecting a 3.49% increase in returns based on the current median price in PALMYRA.
PALMYRA, 6157 places 104th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $625,000 | $395,000 |
| GROWTH REPORT | ||
| Median Quarterly | 1.63% | -1.25% |
| Median 12 month | 4.17% | -4.82% |
| Median 3 years | -12.59% | -11.24% |
| Median 5 years | -4.58% | -14.04% |
| 10 years average annual | 1.31% | 0.12% |
| Weekly media advert. rent | $420 | $340 |
| Time on Market | 45.2 days | 85.3 days |
| Gross Rental Yield Percent | 3.49% | 4.48% |
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