Melbourne makes comeback with auction resurgence
The December quarter saw auction volumes rise in combined capital city markets, with the bulk of the uplift attributed to Melbourne. ...
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 $342,500.
The upward trend in home prices in POINT VERNON, 4655 averaged 1.26% per annum over a 3-year period.
Average weekly rents on listings have reached the $375 mark, reflecting a 5.69% increase in returns based on the current median price in POINT VERNON.
An average of 11.75 real estate transactions take place per month in POINT VERNON which translates to 141 per annum.
141 properties were sold in POINT VERNON in 2016, making it the 754th most active market in QLD based on total real estate transactions.
POINT VERNON, 4655 places 664th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $342,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -1.01% | N/A |
| Median 12 month | 2.24% | N/A |
| Median 3 years | 3.79% | N/A |
| Median 5 years | 12.3% | N/A |
| 10 years average annual | 0.89% | N/A |
| Weekly media advert. rent | $375 | N/A |
| Time on Market | 76.5 days | N/A |
| Gross Rental Yield Percent | 5.69% | N/A |
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