Victoria Breaks Residential Property Price Records
According to the Real Estate Institute of Victoria's (REIV) September quarter report, Victoria's residential median prop...
SOUTH HEDLAND, 6722 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in WA have risen as a whole, pulling SOUTH HEDLAND, 6722 values up and netting property investors a capital gain of 60.71% for the past year.
Investors saw the median home price rise to $337,500.
Profits due to an upward trend in home prices in the suburb averaged 24.36% per annum over a 3-year period.
SOUTH HEDLAND now ranks at the 18th 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 SOUTH HEDLAND 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 $585 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 SOUTH HEDLAND, homes and units usually stay on listing for an average of 37.6 days.
In 2016, 213 properties were sold in SOUTH HEDLAND during the past year, making it the 309th most active market in WA based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||60.71%||29.63%|
|Median 3 years||73.08%||118.75%|
|Median 5 years||0%||N/A|
|10 years average annual||-2.72%||8.69%|
|Weekly media advert. rent||$585||$450.25|
|Time on Market||37.6 days||42.1 days|
|Gross Rental Yield Percent||9.01%||13.38%|