Falling loan deferrals prove market recovery: REIA
The reduction in loan deferral defies doom and gloom forecasts in the property market, the Real Estate Industry of Australia has said. ...
RANGEWAY, 6530 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 $70,000.
Profits due to an downward trend in home prices in the suburb averaged -9.52% per annum over a 3-year period.
RANGEWAY now ranks at the 397th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in RANGEWAY are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $200 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In RANGEWAY, homes and units usually stay on listing for an average of 55.4 days.
In 2016, 49 properties were sold in RANGEWAY during the past year, making it the 142nd most active market in WA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $70,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -6.67% | N/A |
| Median 12 month | -26.32% | N/A |
| Median 3 years | -28.57% | N/A |
| Median 5 years | -55.27% | N/A |
| 10 years average annual | -9.71% | N/A |
| Weekly media advert. rent | $200 | N/A |
| Time on Market | 55.4 days | N/A |
| Gross Rental Yield Percent | 14.86% | N/A |
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