Metro Melbourne Surpasses $1m Mark For The First Time
While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, re...
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 $543,000.
The upward trend in home prices in MARION, 5043 averaged 3.42% per annum over a 3-year period.
Average weekly rents on listings have reached the $420 mark, reflecting a 4.02% increase in returns based on the current median price in MARION.
An average of 5.42 real estate transactions take place per month in MARION which translates to 65 per annum.
65 properties were sold in MARION in 2016, making it the 67th most active market in SA based on total real estate transactions.
MARION, 5043 places 148th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||7.52%||10.14%|
|Median 3 years||10.25%||N/A|
|Median 5 years||17.28%||26.67%|
|10 years average annual||2.24%||10.14%|
|Weekly media advert. rent||$420||$275|
|Time on Market||66.0 days||0.0 days|
|Gross Rental Yield Percent||4.02%||3.76%|