At number 399th in the list of Australian suburbs ordered by increase in median house value over the last year, Parramatta Park, 4870 is in the top 10% with a property value increase of 17.91% recorded in median house prices.
The five-year average increase in median property values for Parramatta Park,4870 has given property investors a potential capital gain of 10.00% across each of those five years.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.21% offered to property buyers. Sellers in Parramatta Park itself are offering an average vendor discount of -5.45% to real estate investors.
Situated 1386.68km from the CBD, Parramatta Park is one of Cairns localities in the postcode 4870.
If you compare the increase in value of investment property in Parramatta Park, 4870 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this QLD suburb was 6.16%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Parramatta Park has increased when compared to the 5 year average annual rate.
Vendor discounting in Parramatta Park is giving property investors an average Vendor Discount of around -8.11%. This puts suburb at number 29th in QLD when ranking the most discounted suburbs.
On average over the past year, suburb has had 2.67 sales per month, which equates to 32 per year.
Renters in Suburb are facing rents around $3600 per annum or $300 every week.