Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
Property investors enjoyed capital gains of 10.86% over the last 12 months in SOMERVILLE, translating to lower returns compared with its peers in WA.
Figures from the previous quarter show that capital gains for real estate buyers in SOMERVILLE are high, as opposed to average gains per annum over the past five years.
The suburb posted a 6.3% 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 $480 based on current median home prices for the suburb.
On average, rents on listings have reached the $480 mark, reflecting a 5.15% increase in returns based on the current median price in SOMERVILLE.
SOMERVILLE, 6430 ranks 98th in WA in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 118th on the list of best yielding suburbs for rental properties in WA, posting a 5.15% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $485,000 | $215,000 |
| GROWTH REPORT | ||
| Median Quarterly | 9.98% | -6.93% |
| Median 12 month | 10.86% | -23.21% |
| Median 3 years | 6.3% | -10.04% |
| Median 5 years | -1.02% | -24.83% |
| 10 years average annual | 0.71% | -0.02% |
| Weekly media advert. rent | $480 | $330 |
| Time on Market | 103.8 days | 124.2 days |
| Gross Rental Yield Percent | 5.15% | 7.98% |
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