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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Property investors have seen a -13.2% drop in MILLNER based on a decrease in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains MILLNER, 810 saw average decrease in the long term.
The NT 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 $386,250
Profits averaged -6.51% per annum over a 3-year period, due to an downward trend in home prices in MILLNER, 810.
This means, real estate investors could earn a rental income of $450 based on current median home prices for the suburb.
The gross rental yield in MILLNER, 810 is 6.06%.
An average of 1.33 real estate transactions take place per month in MILLNER which translates to 16 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $386,250 | $235,000 |
| GROWTH REPORT | ||
| Median Quarterly | -13.2% | -12.96% |
| Median 12 month | -22.36% | -16.81% |
| Median 3 years | -19.53% | -33.8% |
| Median 5 years | -30.03% | -47.01% |
| 10 years average annual | -1.8% | -2.53% |
| Weekly media advert. rent | $450 | $337.5 |
| Time on Market | 0.0 days | 0.0 days |
| Gross Rental Yield Percent | 6.06% | 7.47% |
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