Property investors enjoyed capital gains of 9.71% over the last 12 months in MAYFIELD WEST, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in MAYFIELD WEST are low, as opposed to average gains per annum over the past five years.
The suburb posted a 24.35% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $400 based on current median home prices for the suburb.
On average, rents on listings have reached the $400 mark, reflecting a 4.33% increase in returns based on the current median price in MAYFIELD WEST.
MAYFIELD WEST, 2304 ranks 725th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 326th on the list of best yielding suburbs for rental properties in NSW, posting a 4.33% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $480,000 | $395,000 |
| GROWTH REPORT | ||
| Median Quarterly | 3.23% | N/A |
| Median 12 month | 9.71% | N/A |
| Median 3 years | 24.35% | 31.67% |
| Median 5 years | 37.93% | N/A |
| 10 years average annual | 6.54% | N/A |
| Weekly media advert. rent | $400 | $380 |
| Time on Market | 48.5 days | 0.0 days |
| Gross Rental Yield Percent | 4.33% | 5% |
Just a thought - would a 'pet premium'...
The property markets in Melbourne,...
There is a threshold for the land value...