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8 MIN READProperty 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...
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Wellington PointWellington Point - SUBURB PROFILE REPORT
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Property investors enjoyed capital gains of 12.23% over the last 12 months in WELLINGTON POINT, translating to lower returns compared with its peers in QLD.
Figures from the previous quarter show that capital gains for real estate buyers in WELLINGTON POINT are low, as opposed to average gains per annum over the past five years.
The suburb posted a 17.66% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $540 based on current median home prices for the suburb.
On average, rents on listings have reached the $540 mark, reflecting a 3.85% increase in returns based on the current median price in WELLINGTON POINT.
WELLINGTON POINT, 4160 ranks 489th in QLD in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 547th on the list of best yielding suburbs for rental properties in QLD, posting a 3.85% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $729,500 | $460,000 |
| GROWTH REPORT | ||
| Median Quarterly | 3.34% | 1.1% |
| Median 12 month | 12.23% | 0.27% |
| Median 3 years | 17.66% | -4.66% |
| Median 5 years | 24.7% | 3.86% |
| 10 years average annual | 3.34% | 3.68% |
| Weekly media advert. rent | $540 | $435 |
| Time on Market | 45.3 days | 33.8 days |
| Gross Rental Yield Percent | 3.85% | 4.92% |
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