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 ...
Property investors in CABLE BEACH enjoyed capital gains of 5.8% 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 $492,500.
Profits due to an downward trend in home prices there averaged -0.83% per annum over a 3-year period.
Home owners selling their properties and realtors in CABLE BEACH usually have to wait an average of 67.4 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $597.5 mark, reflecting a 6.31% increase in returns based on the current median price in CABLE BEACH.
CABLE BEACH, 6726 places 105th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $492,500 | $162,000 |
| GROWTH REPORT | ||
| Median Quarterly | 4.79% | 8% |
| Median 12 month | 5.8% | 4.52% |
| Median 3 years | -2.48% | -9.5% |
| Median 5 years | -16.95% | -35.2% |
| 10 years average annual | -2.73% | -7.59% |
| Weekly media advert. rent | $597.5 | $377.5 |
| Time on Market | 67.4 days | 38.3 days |
| Gross Rental Yield Percent | 6.31% | 12.12% |
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