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12 MIN READProperty Market Update: Melbourne, December 2021
Melbourne capped off a bumpy 2021 with double-digit annual growth, triumphing over gloomy start-of-the-year forecasts. H...
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UrungaUrunga - SUBURB PROFILE REPORT
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Property investors enjoyed capital gains of 26.92% over the last 12 months in URUNGA, translating to lower returns compared with its peers in NSW.
Figures from the previous quarter show that capital gains for real estate buyers in URUNGA are low, as opposed to average gains per annum over the past five years.
The suburb posted a 28.16% 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 $480 based on current median home prices for the suburb.
On average, rents on listings have reached the $480 mark, reflecting a 3.78% increase in returns based on the current median price in URUNGA.
URUNGA, 2455 ranks 423rd in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 292nd on the list of best yielding suburbs for rental properties in NSW, posting a 3.78% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $660,000 | $418,000 |
| GROWTH REPORT | ||
| Median Quarterly | 5.6% | 4.76% |
| Median 12 month | 26.92% | -8.93% |
| Median 3 years | 28.16% | 7.87% |
| Median 5 years | 55.48% | N/A |
| 10 years average annual | 7.23% | 12.74% |
| Weekly media advert. rent | $480 | $390 |
| Time on Market | 51.8 days | 0.0 days |
| Gross Rental Yield Percent | 3.78% | 4.85% |
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