Property Market Update: Melbourne, September 2021
Melbourne’s property market kept the ball rolling in September as the city’s dwelling values rose once more during t...
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 $740,000.
The upward trend in home prices in MCDOWALL, 4053 averaged 2.93% per annum over a 3-year period.
Average weekly rents on listings have reached the $552.5 mark, reflecting a 3.88% increase in returns based on the current median price in MCDOWALL.
An average of 10.67 real estate transactions take place per month in MCDOWALL which translates to 128 per annum.
128 properties were sold in MCDOWALL in 2016, making it the 913th most active market in QLD based on total real estate transactions.
MCDOWALL, 4053 places 728th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||5.94%||7.58%|
|Median 3 years||8.78%||5.46%|
|Median 5 years||21.81%||-0.31%|
|10 years average annual||2.6%||1.17%|
|Weekly media advert. rent||$552.5||$425|
|Time on Market||29.0 days||56.5 days|
|Gross Rental Yield Percent||3.88%||5.51%|