Metro Melbourne Surpasses $1m Mark For The First Time
While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, re...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $400,000.
The upward trend in home prices in BEGA, 2550 averaged 4.6% per annum over a 3-year period.
Average weekly rents on listings have reached the $380 mark, reflecting a 4.94% increase in returns based on the current median price in BEGA.
An average of 9 real estate transactions take place per month in BEGA which translates to 108 per annum.
108 properties were sold in BEGA in 2016, making it the 1408th most active market in NSW based on total real estate transactions.
BEGA, 2550 places 598th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||5.26%||N/A|
|Median 3 years||13.8%||N/A|
|Median 5 years||31.15%||N/A|
|10 years average annual||4.5%||N/A|
|Weekly media advert. rent||$380||N/A|
|Time on Market||115.5 days||N/A|
|Gross Rental Yield Percent||4.94%||N/A|