Victoria Breaks Residential Property Price Records
According to the Real Estate Institute of Victoria's (REIV) September quarter report, Victoria's residential median prop...
Property investors enjoyed capital gains of 24.4% over the last 12 months in ALBANY, translating to lower returns compared with its peers in WA.
Figures from the previous quarter show that capital gains for real estate buyers in ALBANY are high, as opposed to average gains per annum over the past five years.
The suburb posted a 13.07% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $375 based on current median home prices for the suburb.
On average, rents on listings have reached the $375 mark, reflecting a 3.42% increase in returns based on the current median price in ALBANY.
ALBANY, 6330 ranks 72nd in WA in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 345th on the list of best yielding suburbs for rental properties in WA, posting a 3.42% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||24.4%||N/A|
|Median 3 years||13.07%||N/A|
|Median 5 years||10.87%||N/A|
|10 years average annual||0.18%||N/A|
|Weekly media advert. rent||$375||N/A|
|Time on Market||83.4 days||N/A|
|Gross Rental Yield Percent||3.42%||N/A|