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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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $823,250.
The upward trend in home prices in MACKENZIE, 4156 averaged 1.85% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 4.11% increase in returns based on the current median price in MACKENZIE.
An average of 1.67 real estate transactions take place per month in MACKENZIE which translates to 20 per annum.
20 properties were sold in MACKENZIE in 2016, making it the 532nd most active market in QLD based on total real estate transactions.
MACKENZIE, 4156 places 368th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $823,250 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.7% | N/A |
| Median 12 month | 1.64% | N/A |
| Median 3 years | 5.54% | N/A |
| Median 5 years | 16.77% | N/A |
| 10 years average annual | 2.96% | N/A |
| Weekly media advert. rent | $650 | N/A |
| Time on Market | 39.8 days | N/A |
| Gross Rental Yield Percent | 4.11% | N/A |
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