Property Market Update: Melbourne, September 2021
Melbourne’s property market kept the ball rolling in September as the city’s dwelling values rose once more during t...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $4,300,000.
The upward trend in home prices in NORTHBRIDGE, 2063 averaged 6.76% per annum over a 3-year period.
Average weekly rents on listings have reached the $1250 mark, reflecting a 1.51% increase in returns based on the current median price in NORTHBRIDGE.
An average of 7.08 real estate transactions take place per month in NORTHBRIDGE which translates to 85 per annum.
85 properties were sold in NORTHBRIDGE in 2016, making it the 89th most active market in NSW based on total real estate transactions.
NORTHBRIDGE, 2063 places 764th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||26.47%||-6.18%|
|Median 3 years||20.28%||-11.67%|
|Median 5 years||66.34%||41.14%|
|10 years average annual||10.07%||8.62%|
|Weekly media advert. rent||$1250||$579.5|
|Time on Market||95.6 days||60.3 days|
|Gross Rental Yield Percent||1.51%||2.31%|