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...
A steady increase in median property prices over a five-year period in the suburb translates to a 10.29% capital gain.
It 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 $386,000
The augmented property values in the suburb are trailing behind the territorial average of 11.8% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $372.5.
Home owners selling their properties and realtors in BORONIA HEIGHTS usually have to wait an average of 31.8 days days before their assets are lifted off the market.
The QLD suburb ranks 287th on the list of best yielding suburbs for rental properties in QLD, posting a 5.02% return.
It also places places 461st in Australia based on median property value growth during the quarter.
Boronia Heights is a sleepy suburb bounded by Park Ridge to its right and Greenbank to its left. It belongs to the local government area of Logan City in Queensland.
Boronia Heights was proclaimed as a suburb in 1991, and was named after its first residential community. It is the perfect take-off point for a day hike at the Boronia Heights Bushland Reserve for kangaroo sightings, to observe the beauty of the flora endemic to the region, or amble along forest paths that are often interrupted by meandering, crystal-clear streams.
Thriving real estate
Boronia Heights may be new in the real estate game, but it has all the trappings of an established neighbourhood. Within reach are a school, several shopping centres, parks and leisure spaces, and various transport links to the city. Family living is at the heart of its amenities and locals take pride in its childcare facilities, ample picnic areas and walking tracks.
Boronia Heights real estate listings feature a mix of old properties and houses being sold off the plan in new residential developments. Anything from full turnkey house and land packages to vacant lots is being offered to prospective buyers. Land values and median home prices in Boronia Heights are on an uptick, pulled up by Logan’s healthy real estate environment.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||10.13%||N/A|
|Median 3 years||10.29%||2.22%|
|Median 5 years||13.28%||6.01%|
|10 years average annual||2.55%||8.25%|
|Weekly media advert. rent||$372.5||$350|
|Time on Market||31.8 days||0.0 days|
|Gross Rental Yield Percent||5.02%||7%|