Office investment in Melbourne is boosting resi investment
Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
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 $395,000.
The upward trend in home prices in MUDGEE, 2850 averaged 2.35% per annum over a 3-year period.
Average weekly rents on listings have reached the $360 mark, reflecting a 4.74% increase in returns based on the current median price in MUDGEE.
An average of 27.33 real estate transactions take place per month in MUDGEE which translates to 328 per annum.
328 properties were sold in MUDGEE in 2016, making it the 637th most active market in NSW based on total real estate transactions.
MUDGEE, 2850 places 521st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $395,000 | $260,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.77% | -2.8% |
| Median 12 month | 4.5% | -5.45% |
| Median 3 years | 7.05% | -11.11% |
| Median 5 years | 0% | -16.67% |
| 10 years average annual | 3.3% | 0.16% |
| Weekly media advert. rent | $360 | $327.5 |
| Time on Market | 90.3 days | 114.5 days |
| Gross Rental Yield Percent | 4.74% | 6.55% |
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