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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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 $370,000.
Profits due to an downward trend in home prices there averaged -3.33% per annum over a 3-year period.
Home owners selling their properties and realtors in WELLARD usually have to wait an average of 119.2 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $350 mark, reflecting a 4.92% increase in returns based on the current median price in WELLARD.
WELLARD, 6170 places 294th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $370,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -2.63% | N/A |
| Median 12 month | -8.64% | N/A |
| Median 3 years | -9.98% | N/A |
| Median 5 years | -17.78% | N/A |
| 10 years average annual | 1.13% | N/A |
| Weekly media advert. rent | $350 | N/A |
| Time on Market | 119.2 days | N/A |
| Gross Rental Yield Percent | 4.92% | N/A |
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