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...
MORNINGTON, 4825 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 $275,000.
MORNINGTON now ranks at the 269th place on a list of fastest growing suburbs in the territory.
Because of this real estate investors could earn a rental income of $420 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MORNINGTON, homes and units usually stay on listing for an average of 62.3 days.
In 2016, 21 properties were sold in MORNINGTON during the past year, making it the 598th most active market in QLD based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-3.51%||N/A|
|Median 3 years||N/A||N/A|
|Median 5 years||N/A||N/A|
|10 years average annual||-3%||N/A|
|Weekly media advert. rent||$420||N/A|
|Time on Market||62.3 days||N/A|
|Gross Rental Yield Percent||7.94%||N/A|