Property market update: Melbourne, April 2020
Several weeks after lockdown measures have been passed due to the ongoing COVD-19 pandemic, how is the Melbourne property market faring in t...
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Property investors have seen a -2.83% drop in NORTHGATE based on a decrease in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains NORTHGATE, 5085 saw average growth in the long term.
The SA 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 $567,500
Profits averaged -0.61% per annum over a 3-year period, due to an downward trend in home prices in NORTHGATE, 5085.
This means, real estate investors could earn a rental income of $420 based on current median home prices for the suburb.
The gross rental yield in NORTHGATE, 5085 is 3.85%.
An average of 3.83 real estate transactions take place per month in NORTHGATE which translates to 46 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $567,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | -2.83% | N/A |
| Median 12 month | 1.79% | N/A |
| Median 3 years | -1.82% | N/A |
| Median 5 years | 1.79% | N/A |
| 10 years average annual | 1.76% | N/A |
| Weekly media advert. rent | $420 | N/A |
| Time on Market | 61.1 days | N/A |
| Gross Rental Yield Percent | 3.85% | N/A |
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