Investment property in Palm Cove has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -13.89%
Palm Cove,4879 was ranked 1525 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Palm Cove are currently offering property investors an average price cut of -7.64% below the asking price at the moment.
On average over the past year, suburb has had 3.25 sales per month, which equates to 39 per year.
A $460 per week rent on the median house gives suburb investors a gross yield of circa 4.24%, without taking into account capital value appreciation, which has been averaging out at 2.34%.
Palm Cove, 4879 ranked 152th in QLD when comparing growth in median property values or capital gain over the last 12 months. Palm Cove is one of 2415 in our list for QLD
The five-year average increase in median property values for Palm Cove,4879 has given property investors a potential capital gain of 13.20% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Palm Cove, 4879. Typically our figures indicate that -8.52% is being offered, which puts this QLD suburb at 142th most discounted overall in Australia.
Situated 1408.59km from the CBD, Palm Cove is one of Cairns localities in the postcode 4879.