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 13.31% 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 $715,000
The augmented property values in the suburb are trailing above 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 $520.
Home owners selling their properties and realtors in CLEVELAND usually have to wait an average of 43.5 days days before their assets are lifted off the market.
The QLD suburb ranks 562nd on the list of best yielding suburbs for rental properties in QLD, posting a 3.78% return.
It also places places 452nd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||15.51%||7.55%|
|Median 3 years||13.31%||14.1%|
|Median 5 years||22.64%||11.25%|
|10 years average annual||3.99%||1.48%|
|Weekly media advert. rent||$520||$420|
|Time on Market||43.5 days||66.0 days|
|Gross Rental Yield Percent||3.78%||4.91%|