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 $685,000.
The upward trend in home prices in ARUNDEL, 4214 averaged 6.45% per annum over a 3-year period.
Average weekly rents on listings have reached the $560 mark, reflecting a 4.25% increase in returns based on the current median price in ARUNDEL.
An average of 16.67 real estate transactions take place per month in ARUNDEL which translates to 200 per annum.
200 properties were sold in ARUNDEL in 2016, making it the 614th most active market in QLD based on total real estate transactions.
ARUNDEL, 4214 places 435th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||9.2%||9.14%|
|Median 3 years||19.34%||12.12%|
|Median 5 years||26.15%||10.61%|
|10 years average annual||3.66%||1.73%|
|Weekly media advert. rent||$560||$430|
|Time on Market||52.4 days||36.1 days|
|Gross Rental Yield Percent||4.25%||6.04%|