Newnham Market Update
June 2020 By Veronica West
Hi, I’m Veronica West & welcome to your Newnham monthly market review.
Newnham currently has 7 properties available for rent and 29 properties for sale. The Median property price in the area over the last 12 months is sitting at $323,500 for houses and $288,000 for units. If you are looking for an investment property, consider houses in Newnham rent out for $330 PW with an annual rental yield of 5.3% for houses and units rent for $243 PW with a rental yield of 4.4%. Based on five years of sales, Newnham has seen a compound growth rate of 5.2% for houses and 10.0% for units. The predicted trend for the area is that it will continue at similar price mediums for the time being.
In the last month 8 properties have been listed for sale in the area with 2 going under contract and 4 properties have completed the sales process.
Looking at the statistics for the area through the major real estate portals on average, property in Newnham have an average of 1400 property views per day for the first 2 weeks.
If you would like more information or have any questions about the Newnham market, please contact me Veronica West on 0428 267 007 your Newnham area specialist.