Southern Cross Property Sales Overview
The median property value in Southern Cross for December is $396,887.
Houses have decreased by -0.09% for the month and decreased 0% for the year.
Rental demand is up with yields increasing in February to 7.52%, from 7.35% in January.
The number of properties sold this quarter is down on last quarter from 3 to 1. This is down on the 5 year quarterly average of 8 indicating weaker demand.
What's the median House price in Southern Cross in December 2021?
The median property value for houses in Southern Cross is $396,887.
This is a decrease of -0.09% ($397,251) from last month.
How much does it cost to rent a House in Southern Cross?
Rent prices in Southern Cross are the highest they've been in 12 months at $331.
This is up 11.07% from a 12 month low of $298 in April 2021 and a 1.53% up from last month.
What's the current rental yield in Southern Cross?
Rental yields for houses in Southern Cross have increased in December for the 3rd consecutive month.
This is up from a 12 month low of 6.99% in February 2021 and the same from a 12 month high of 7.52% in December 2021.
How many properties sold in Southern Cross in February?
Total sales volume in Southern Cross is 1, which is down from 3 in the previous quarter.
This is 1.00% stronger than the weakest quarter in the last 5 years which was Q3 2019 with 0 sales and -83.33% weaker than the strongest quarter in the past 5 years which saw 6 sales in Q1 2021.
How long did it take to sell a property in Southern Cross in February?
60 days is the average time on market in Southern Cross in December, which is the same from 60 in November and has been trending down since April 2021.
This can indicate a buyers market where sellers are finding it harder to make a sale.
Are properties selling below or above the listing price in Southern Cross?
December sees the vendor expectation error for Southern Cross at -2.2% which means, on average, places sold for -2.2% less than the listing price.
This is a great sign for buyers looking to negotiate.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the -2.2% as things can move pretty quickly.