Australia is in the midst of ‘the biggest rental crisis in history’, expert says
Australia’s property market has never been more paradoxical, with intense rental pressure recorded in a majority of towns and cities, but ...
Homeowners and real estate investors betting on PORT HEDLAND, 6721 can rest assured about this WA suburb's performance. The suburb saw median home prices rise by 12.38%.
Property investors in PORT HEDLAND enjoyed capital gains of 12.38% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $467,500.
Profits due to an upward trend in home prices there averaged 8.78% per annum over a 3-year period.
Home owners selling their properties and realtors in PORT HEDLAND usually have to wait an average of 67.7 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $675 mark, reflecting a 7.51% increase in returns based on the current median price in PORT HEDLAND.
PORT HEDLAND, 6721 places 24th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $467,500 | $166,000 |
| GROWTH REPORT | ||
| Median Quarterly | 11.98% | 3.75% |
| Median 12 month | 12.38% | -22.43% |
| Median 3 years | 26.35% | -17% |
| Median 5 years | -29.7% | -66.12% |
| 10 years average annual | -4.65% | -7.98% |
| Weekly media advert. rent | $675 | $425 |
| Time on Market | 67.7 days | 58.7 days |
| Gross Rental Yield Percent | 7.51% | N/A |
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