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...
Property investments in BELFIELD did not fare well against the rest of the country last year, registering a median home price decrease of 10.92%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are high, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains BELFIELD, 2191 saw average growth in the long term.
Real estate investors could earn a rental income of $550 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 72.5 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $1,414,250.
BELFIELD ranks 1028th on the list of best yielding suburbs for rental properties in NSW, posting a 2.02% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||10.92%||-2.88%|
|Median 3 years||9.63%||-6.57%|
|Median 5 years||20.67%||0%|
|10 years average annual||8.25%||4.64%|
|Weekly media advert. rent||$550||$470|
|Time on Market||72.5 days||81.5 days|
|Gross Rental Yield Percent||2.02%||3.62%|