Property market update: Melbourne, April 2020
Several weeks after lockdown measures have been passed due to the ongoing COVD-19 pandemic, how is the Melbourne property market faring in t...
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CLAREMONT MEADOWS, 2747 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $682,594.
Profits due to an upward trend in home prices in the suburb averaged 2.08% per annum over a 3-year period.
CLAREMONT MEADOWS now ranks at the th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in CLAREMONT MEADOWS are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $450 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CLAREMONT MEADOWS, homes and units usually stay on listing for an average of 60.0 days.
In 2016, 57 properties were sold in CLAREMONT MEADOWS during the past year, making it the 286th most active market in NSW based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $682,594 | $572,500 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | N/A |
| Median 12 month | -0.5% | N/A |
| Median 3 years | 6.24% | N/A |
| Median 5 years | 39.73% | N/A |
| 10 years average annual | 7.62% | N/A |
| Weekly media advert. rent | $450 | N/A |
| Time on Market | 60.0 days | 0.0 days |
| Gross Rental Yield Percent | 3.43% | N/A |
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