Markets In A ‘sound’ State Despite Shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth 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 $360,000.
The upward trend in home prices in GLEN IRIS, 6230 averaged 11.61% per annum over a 3-year period.
Average weekly rents on listings have reached the $405 mark, reflecting a 5.85% increase in returns based on the current median price in GLEN IRIS.
An average of 6.75 real estate transactions take place per month in GLEN IRIS which translates to 81 per annum.
81 properties were sold in GLEN IRIS in 2016, making it the 42nd most active market in WA based on total real estate transactions.
GLEN IRIS, 6230 places 246th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||20%||N/A|
|Median 3 years||34.83%||N/A|
|Median 5 years||9.09%||N/A|
|10 years average annual||1.1%||N/A|
|Weekly media advert. rent||$405||N/A|
|Time on Market||45.7 days||N/A|
|Gross Rental Yield Percent||5.85%||N/A|