Arnold
CibbuanoHow Does Your City Stack Up?
July 26th 2006 00:03
I’ve consolidated some of the real estate market data that I’ve gather for the past year’s market analysis results. Now it’s time to do some real analysis to see which markets are performing the best on a national scale. I’ve set up two data tables, one for residential homes and the other for residential units.
In the first column, I list the average price of a home for a specific city. In the next column I give the average yearly rental return you’d expect for a residential property in that given city. The final column calculates this yearly rental return with respect to the average cost of buying a property.
From the results we can see that Cairns has given the best rental return to outlay performance for the past year for both residential houses and units. The units faired a bit better but overall it seems landlords in Cairns should be relatively happy. The worst performers were Sydney in the residential housing market where annual average rental returns only covered a minor 2.67% of the total cost of purchasing an average property in Sydney. In the residential units, the worst performer was Melbourne. However, the rate of return for a Melbourne unit was still higher than the bottom three performers in the residential housing market.
Check back tomorrow for some more commentary.
In the first column, I list the average price of a home for a specific city. In the next column I give the average yearly rental return you’d expect for a residential property in that given city. The final column calculates this yearly rental return with respect to the average cost of buying a property.
From the results we can see that Cairns has given the best rental return to outlay performance for the past year for both residential houses and units. The units faired a bit better but overall it seems landlords in Cairns should be relatively happy. The worst performers were Sydney in the residential housing market where annual average rental returns only covered a minor 2.67% of the total cost of purchasing an average property in Sydney. In the residential units, the worst performer was Melbourne. However, the rate of return for a Melbourne unit was still higher than the bottom three performers in the residential housing market.
Check back tomorrow for some more commentary.
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