South Ripley Property Sales Overview
The median property value in South Ripley for December is $540,636.
Houses have increased by 2.10% for the month and decreased 0% for the year.
Rental demand is up with yields decreasing in February to 4.16%, from 4.25% in January.
The number of properties sold this quarter is down on last quarter from 66 to 10. This is down on the 5 year quarterly average of 80 indicating weaker demand.
What's the median House price in South Ripley in December 2021?
The median property value for houses in South Ripley is $540,636.
This is an increase of 2.10% ($529,512) from last month.
How much does it cost to rent a House in South Ripley?
Rent prices in South Ripley are the highest they've been in 12 months at $431.
This is up 11.37% from a 12 month low of $387 in January 2021 and a 0.94% up from last month.
What's the current rental yield in South Ripley?
Rental yields for houses in South Ripley have decreased in December for the 3rd consecutive month.
This is the same from a 12 month low of 4.16% in December 2021 and down from a 12 month high of 4.58% in December 2020.
How many properties sold in South Ripley in February?
Total sales volume in South Ripley is 10, which is down from 66 in the previous quarter.
This is 66.67% stronger than the weakest quarter in the last 5 years which was Q4 2016 with 6 sales and -73.68% weaker than the strongest quarter in the past 5 years which saw 38 sales in Q2 2021.
How long did it take to sell a property in South Ripley in February?
10 days is the average time on market in South Ripley in December, which is the same from 10 in November and has been trending down since December 2020.
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 South Ripley?
December sees the vendor expectation error for South Ripley at 5.3% which means, on average, places sold for 5.3% more than the listing price.
This is handy to know as a buyer to set your expectation and to give you a more realistic view of what you might expect properties to sell for on auction day.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the 5.3% as things can move pretty quickly.