How will the latest lockdowns impact Melbourne’s property market?
Melbourne’s property market is currently experiencing the largest decline out of Australia’s capitals with fears new lockdown laws could...
The suburb’s capital gain of -1.74% for the past year is lower than average compared to its 18.77% growth within a five-year period.
Also in NEW FARM, the median home price is sitting at $1,550,000, and the average rent at $790, this suggests property owners could potentially earn a 2.65% increase in gross rental yield.
Property investors have seen a 0% gain in NEW FARM based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 5.08% growth over a ten-year period. It ranks 1580th on our list of suburbs that property investors should look into.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,550,000 | $580,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0% | 0.87% |
| Median 12 month | -1.74% | 0% |
| Median 3 years | -3.13% | 1.4% |
| Median 5 years | 18.77% | -1.53% |
| 10 years average annual | 5.08% | 1.81% |
| Weekly media advert. rent | $790 | $420 |
| Time on Market | 70.1 days | 56.9 days |
| Gross Rental Yield Percent | 2.65% | 3.77% |
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