Rental yields falls slightly in Richmond-Tweed area: CoreLogic

Staff reporterSeptember 7, 20160 min read

Over the year to June 2016, sales activity across the Richmond – Tweed region rose by 2.5 percent, bringing current activity almost 20 percent above the five year average for the region, according to CoreLogic's regional market report.

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Since 2014, the number of residential homes selling across the region has been trending upwards, yet still hasn’t reached the same levels that were seen back in 2002, when over the 12 months ending May 8,398 homes sold.

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Home values across the region have also risen over the past year, up 8.4 per cent for both houses and units to $482,674 and $367,571 respectively.

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Across the rental market, rental rates for both houses (+4.8 per cent) and units (+5.6 per cent) have also risen over the year, however not at the same rate as home values, thus rental yields have fallen slightly.

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Staff reporter

Tags:
Richmond
Corelogic
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