Open for business: Victorian property market to recommence
Real estate bodies are rejoicing following the announcement that private inspections for purchase or leasing of Victorian residential pro...
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 $272,000.
The upward trend in home prices in BURONGA, 2739 averaged 4.05% per annum over a 3-year period.
Average weekly rents on listings have reached the $250 mark, reflecting a 4.78% increase in returns based on the current median price in BURONGA.
An average of 1.42 real estate transactions take place per month in BURONGA which translates to 17 per annum.
17 properties were sold in BURONGA in 2016, making it the 984th most active market in NSW based on total real estate transactions.
BURONGA, 2739 places th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $272,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | -12.26% | N/A |
| Median 3 years | 12.16% | N/A |
| Median 5 years | 13.81% | N/A |
| 10 years average annual | 2.2% | N/A |
| Weekly media advert. rent | $250 | N/A |
| Time on Market | 61.8 days | N/A |
| Gross Rental Yield Percent | 4.78% | N/A |
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